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04 March 2003
04. March 2003 Commercial Aircraft

Airbus statement on US Airways delayed payments

Following the information published in the media about the US Airways failed payments due on 23 Airbus aircraft, Airbus would like to make these precise comments:

1. The amount of $44.5 million mentioned in the press reports corresponds to total payments due by the airline on March 3 to all the financiers of 23 Airbus single aisle aircraft. This financing was arranged on the US bond market (EETC).

2. Airbus share of the financing is limited to 15% of the total amount.

3. These payments are to be recovered as part of the reorganisation of the airline, currently under chapter 11 proceedings.

4. As a result, Airbus does not envisage to change its assessment of its financing exposure to US Airways.

Airbus is an EADS joint Company with BAE SYSTEMS.

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