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AVH - Avianca Holdings SA News Story

$0.88 0.0  0.0%

Last Trade - 08/05/20

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.51bn
Position in Universe th / 6846

UPDATE 1-Airbus gains head start in 2015 order race with Avianca deal

Thu 5th February, 2015 5:50pm
(Recasts with preliminary Avianca order, Boeing data) 
    Feb 5 (Reuters) - Airbus  AIR.PA  reported a roughly $11 
billion preliminary order from Colombian airline group Avianca 
Holdings on Thursday, gaining a head start in its 2015 order 
race with U.S. rival Boeing  BA.N  subject to a final 
confirmation of the deal. 
    The memorandum of understanding for 100 A320neo-family jets 
is worth $10.6 billion at list prices based on the main model of 
the three-member Airbus narrow-body family of aircraft. 
    Avianca Holdings  AVT_p.CN  controls Avianca-Taca, which was 
formed from the merger of Colombian carrier Avianca and El 
Salvador's Taca in 2010. 
    The draft deal emerged after Airbus and Boeing tied in a 
quiet month of January with 5 new orders apiece, though Boeing 
also got a cancellation for one of its 787 Dreamliners. 
    Airbus said it had won five firm orders in the month for the 
current version of its A330 aircraft, helping plug a potential 
gap in production as it works on a revamped version of the 
wide-body jet to enter service in 2017. 
    It said the order for five A330-200s, worth $1.1 billion at 
list prices, came from a new customer that it did not identify. 
    Boeing posted five orders worth $500 million at list prices 
from All Nippon Airways  9202.T  for the current version of its 
737 series, another aircraft in the process of being revamped. 
    After delivering five A330s in January, Airbus now has a 
backlog of 193 of the wide-body A330 including freighters. 
    It is under pressure to find new sales to support production 
of the 20-year-old current version of the wide-body jet, which 
faces competition from Boeing's 787 Dreamliner. 
    Fabrice Bregier, chief executive of Airbus Group's main 
planemaking business, said this month he expected more A330 
orders soon but not enough to avoid lower production after 2015. 
    Airbus produces 10 A330s a month and plans to trim this to 
nine in the fourth quarter. Analysts believe it could have to 
cut to as few as six a month. 
    Airbus meanwhile delivered 36 aircraft in January, including 
one A380 to Dubai's Emirates, company data showed on Thursday. 
    The European planemaker beat U.S. rival Boeing in orders 
last year after a surge of new business in December, but 
remained behind in deliveries for a third year. 
 (Reporting by James Regan and Tim Hepher; Editing by David 
Holmes and Mark Potter) 
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