Airbus won't cut prices to keep orders from airlines that have been hit hard by the economic downturn, a senior executive said Friday.
"There will be no deals on pricing; we will not destabilize our pricing or profit margins," Airbus Executive Vice President for Europe and Asia Pacific Christopher Buckley told Dow Jones Newswires on the sidelines of the Association of Asia Pacific Airlines conference in Singapore.
He 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 stabilize the production program.
"But we cannot renegotiate signed contracts," Buckley said.
The executive said Airbus "is on track for deliveries in 2010 and 2011."
Buckley also said that Airbus may cut its A320 production to 32 planes a month from 34 planes currently, "although indications are that we may not need to do it."
-By Costas Paris, Dow Jones Newswires; +65 6415 4151; firstname.lastname@example.org