Airbus sees bottom of industry slump

LE BOURGET, France (AP) — Airbus CEO Tom Enders was in high spirits on Friday, saying the unexpected crop of orders won at the Paris Air Show shows the heart of the aviation industry is still beating despite the recession.

Unlike archrival Boeing Co. – which managed a single order for two planes worth a paltry $153 million – the European planemaker chalked up firm orders for 58 planes worth $6.4 billion over five days, mostly from Asian and budget airlines.

Including commitments – when customers make a deposit but the sale is not legally binding – Airbus signed deals worth $12.9 billion for 127 planes.

Enders told The Associated Press that Airbus “didn’t expect” such a score.

“I think it’s a good sign for the entire industry,” he said in a interview. “It’s a good sign that aviation is not collapsing, that there is not doom and gloom all over.”

Not collapsing perhaps, but not brimming with confidence either.

The International Air Transport Association estimates the world’s airlines will collectively lose $9 billion this year and face a slow recovery as the economic crisis saps air travel and cargo demand.

Leahy said the air show orders suggest “we are bouncing along the bottom” — although “I don’t think this necessarily means that we are in full recovery mode yet.”

He said Airbus’ target of capturing 300 orders this year “didn’t look too accurate a couple of weeks ago” but is now “perhaps achievable.”

Boeing tried to shrug off Airbus’ better success with orders during the week, saying the company doesn’t save up orders to announce at air shows.