Manufacturers working on loans for airlines

Boeing and Airbus are preparing emergency loan packages worth billions of dollars in 2009 to help struggling carriers, the UK’s Times newspaper has reported.

In an interview with IATA director general and CEO, Giovanni Bisignani, said that aircraft manufacturers were trying to set up financial packages in anticipation of a slump in aircraft orders.

Bisignani went on to say the world’s leading carriers would struggle to fund new orders in 2009: “In this climate it is not going to be easy to fund their needs to buy new planes. It is going to be very, very tough for those large players,” he said.

Source: Routes News