Page last updated at 14:18 GMT, Thursday, 29 January 2009

Airbus sees no need for bail-out

Airbus has insisted the industry can weather economic downturn

The chief executive of Airbus says that he sees no need for a government bail-out of the airline industry.

Speaking at the World Economic Forum, he said the sector is relying on governments to sort out the banks.

"What our industry needs is first and foremost a functioning financial system," Tom Enders told the BBC.

It was reported earlier in the week that the French government was considering measures to help airlines to buy new aircraft.

Customers and suppliers being unable to borrow the money they need does indeed pose a threat to his business, Mr Enders said, but he was still upbeat about its prospects.


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"We have a huge order backlog - we are not going out of business," he said.

Shares in Airbus' parent company EADS rose on Monday after it was reported that the French government was preparing to tell banks to lend 5bn euros ($6.5bn: 4.68bn) to airlines to help them with aircraft purchases.

Mr Enders' comments came the day after Airbus' rival Boeing announced 10,000 job cuts after reporting an unexpected three-month loss.

There is concern that the downturn in air travel as well as cost-cutting by airlines could create difficulties for the airline sector.

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