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Boeing ensures its customers have enough to finance their aircraft purchases

2021-04-14T20:04:53.852Z

The American aircraft manufacturer Boeing assured on Wednesday that the buyers of its planes, even if they were financially affected by the pandemic, had at their disposal enough solutions and resources to continue ordering. Read also: Boeing deliveries boosted in Q1 by the return of the 737 Max “Despite the unprecedented impacts of Covid-19 on the aerospace industry around the world, there is s



The American aircraft manufacturer Boeing assured on Wednesday that the buyers of its planes, even if they were financially affected by the pandemic, had at their disposal enough solutions and resources to continue ordering.

Read also: Boeing deliveries boosted in Q1 by the return of the 737 Max

“Despite the unprecedented impacts of Covid-19 on the aerospace industry around the world, there is still liquidity in the market for our customers, and we expect the situation to continue to improve as travel begins. to bounce back, ”

said Tim Myers, head of Boeing Capital, in a statement.

“Financiers and investors understand the resilience of the industry and the long-term fundamentals that make aircraft a valuable asset class

,” he added on the occasion of the publication of a report on funding used to pay for ordered planes.

40% decrease in spending

In 2020, the amounts spent on buying commercial planes fell 40% across the industry, to $ 59 billion, Boeing estimates.

There was enough cash at the end of the year to fund deliveries, the company said.

And for the rest,

"we expect the markets to continue to recover from the crisis and the cost of capital to remain low

.

"

Boeing customers have mainly financed their purchases through the money available to them in their coffers, loans from banks or fundraising in the markets, says the company.

Aircraft rental companies have also continued to nibble on market share and now own 46% of the aircraft in circulation in the world.

Source: lefigaro

All business articles on 2021-04-14

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