EADS CEO says demand for planes still strong -paper


European aerospace and defence group EADS continues to see solid demand for its planes and does not expect its business to be hit by the current euro zone debt crisis, its chief executive told a German paper.

“We’re currently not in crisis mode, demand for planes and helicopters is still strong,” Louis Gallois told Sueddeutsche Zeitung in an interview published on Thursday.

He said EADS was protected relatively well by net liquidity of 11 billion euros ($15 billion) and an order backlog of more than 500 billion and that no support from banks was required, Reuters reports.
“Even if customers should cancel orders, there will be others that want their planes at an earlier date,” Gallois said. Therefore, we’re on the safe side at the moment, even though we stay alert.”

EADS, the parent of planemaker Airbus, posted higher-than-expected third-quarter results in early November and raised its outlook for the full year.