GIFAS News - April 2009

The results recorded by the French aerospace industry in 2008 reflect strong economic growth in the air transportation industry from the beginning of 2008 through to mid-year. These results are not consistent with the current economic situation.

For Charles Edelstenne, GIFAS Chairman, “The financial crisis, followed by the current economic crisis, have dramatically impacted this situation since last summer.”

The high number of orders received no longer provide any guarantees for our business. Customer orders must be transformed into deliveries to do that.
The longer this crisis lasts, the greater the risk of order cancellations.
This is why we are playing it by ear today. We are absolutely certain, though, that the air transport industry base is solid, and that need will pick up in step with global growth.”