Plane sailing for EADS
Jean-Baptiste Pons, head of corporate finance and treasury at EADS, talks to Alexander Campbell
Even without the intervention of Icelandic volcano Eyjafjallajökull in April 2010, the airline industry had been having a bad time in the global recession. Last year was the worst the industry has ever seen, with a 3.5% drop in passenger traffic and a 10.1% drop in freight from 2008, according to the International Air Transport Association.
But the damage to Airbus, one of the two major airliner manufacturers, has been more limited than during the aviation industry’s last crisis in 2001/02
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