Airbus is encouraged by evidence of increasing engagement with export-credit agencies to support aircraft deliveries.
Chief financial officer Dominik Asam, speaking during an 18 February briefing, said the airframer was trying to “resuscitate” export-credit financing, stating that the proportion of deliveries with such support has risen to 10% from 2% last year.
“We hope it’s only the start,” he says, adding that he still sees a “robust” financial services sector.
Asam stresses that Airbus is not intending to “do more than we need” with regard to customer financing of aircraft.
“We might have to chip in with our own balance sheet,” he says. “But only on an exceptional basis.”
Export-credit agencies are the company’s “biggest support” and are “stepping up the pace enormously”, adds Asam.
Airbus has undertaken “comprehensive rescheduling” with customers, he says, providing a “bit of breathing room” to customers.
While this has enabled the airframer to “cling on” to pre-delivery payments, he says, delivery deferrals mean there will be periods over which lower payments will be flowing into Airbus.