Airbus won't cut prices to keep orders from airlines that have been hit hard by the economic downturn, according to a senior executive, Dow Jones reported.
"There will be no deals on pricing; we will not destabilise our pricing or profit margins," Airbus executive vice Ppesident for Europe and Asia Pacific Christopher Buckley said.
Demand for new, large commercial aircraft has slumped over the past year as airlines, eager to preserve their cash amid dwindling traffic, withdraw capacity from their fleets, defer delivery of ordered aircrafts or defer decisions to add new planes.
Buckley said Airbus is trying to be flexible and facilitating customers' requests on deferred deliveries. He noted that the firm has taken into account airlines' needs on deliveries for the A380 planes, which means it is taking longer to stabilise the production program.
"But we cannot renegotiate signed contracts," Buckley said.
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