Lifting the current suspension of export credit agency-guaranteed financing for Airbus jets would be in the "mutual interest" of both the manufacturer and the government agencies, Airbus Group finance chief Harald Wilhelm argued during a third-quarter results call today.
Wilhelm says "dialogue is constructive" between the parties.
However, the manufacturer did not specify when ECA debt would be available for Airbus commercial aircraft again, stating: "Airbus Group continues to work with the ECAs on a process to resume financing but, given the progress so far, the timing and quantum are still uncertain."
Mainly as a result of ECA financing's unavailability, Airbus itself had to extend some €500 million ($550 million) of aircraft financing to customers over the first nine months of 2016.
Wilhelm says this figure is likely to increase over the final quarter but "will not double".
A strong and liquid macro financing market has limited the amount of customer support the manufacturer has had to offer, Wilhelm adds.
Prior to suspension of ECA financing for its products, Airbus had expected to have to lend roughly €150 million this year, in line with 2015's customer finance total, notes Wilhelm.
European ECAs have not been offering Airbus guarantees amid concerns over what UK Export Finance's aerospace manager Paul Walsh has described as "possible inaccuracies" in historic applications for export credit agency support.
Speaking at the Airline Economics Growth Frontiers conference in Dubai earlier this month, Walsh added that all the European ECAs were working closely with Airbus to resolve the issue.
In August, the UK's Serious Fraud Office announced that it was beginning an investigation into Airbus centred on "irregularities" in regard to third-party consultants.
Source: Cirium Dashboard
