Airbus chief sees 50-60 per cent drop in world aircraft sales

RIYADH: World demand for new aircraft could plunge 50 to 60 per cent in 2009 due to the global economic crunch and tight credit, Airbus chief executive Thomas Enders said in the Saudi capital on Sunday.

Speaking at the Global Competitiveness Forum in Riyadh, Enders said buyers even in buoyant markets like the Gulf, one of the main venues for aircraft sales in 2007-2008, were drying up.

"We are struggling to get financing for our customers," said Enders, adding that the European firm Airbus is preparing for a long downturn.

Earlier this month, Enders warned that the number of deliveries this year would surpass the number of orders for the first time since 2003.

Airbus delivered 483 aircrafts in 2008, and won 777 net orders valued at $100 billion, the company's website said. Rival US manufacturers Boeing delivered 375 aircrafts in 2008 while it received 662 orders.

Global sales of large new aircrafts was about 1,400 units in 2007.

In July, when oil prices reached record prices, Airbus struck deals to sell eco-friendly passenger jets worth USD 15.2 billion to mainly cash-rich Arab states in the Gulf.