Carson affirms 2009 delivery plan, calls credit capacity "sufficient"

Washington DC
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Despite an "uncertain and unstable" credit market, Boeing Commercial Airplanes CEO Scott Carson reaffirms that the US airframer believes "sufficient" credit exists to finance all 2009 deliveries and those into the early part of 2010.

But Carson also says the airframer is "cautious" in looking beyond the early part of 2010.

Carson tells attendees at the JP Morgan Aviation and Transportation Conference that Boeing evaluates the state of its customer delivery schedules on a weekly basis and production rates on a monthly basis. Though no production cut is planned, Boeing has left open the door for a production rate cut if it sees necessary.

"What we don't want to do is produce more aircraft than the world needs," says Carson.

Carson adds that with financing secured for 2009 deliveries, customers were providing a "relatively minimal" draw on Boeing Capital Corporation financing.

Boeing has allocated $1 billion for airplane financing in 2009 if necessary, and the company has had "a good response" as it works closely with the US Export Import Bank to assist in financing customer deliveries.