As if Airbus actually has to worry about profits. ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/07/05/f= inancial0656EDT0006.DTL ---------------------------------------------------------------------- Friday, July 5, 2002 (AP) Airbus says rising euro could cut into profits (07-05) 03:56 PDT (AP) -- PARIS (Dow Jones/AP) -- The top official of the European aircraft maker Airbus said Friday that the rising euro could cut into the company's profits. The company can remain profitable with the euro at a $1 level, but a further rise would create problems, said Airbus Chief Executive Noel Forgeard. "It becomes difficult even before a level of $1.1, but Airbus can remain profitable with a level of $1," Forgeard said in an interview with French TV channel LCI. Airbus sells most of its aircraft in dollars while a large part of its costs, mainly salaries, are in euros. The euro has crept upward against the dollar hovered recently around 0.9= 8. On Thursday, it was quoted at .97, down from .98 late Wednesday. Forgeard said Airbus had not consumed cash in the first half of this yea= r, providing only limited financial support to its customers. "When companies provide a lot of vendor financing, cash reserves decrease," Forgeard said. "But we didn't consume cash in the first half of the year." Faced with a sharp downturn in the air travel industry, several airlines are seeking discounts or financial backing from aircraft makers Airbus and the American company Boeing. Analysts have expressed concern that the combination of a stronger euro against the dollar and lower demand for aircraft will dent Airbus profits in 2002. =20 ---------------------------------------------------------------------- Copyright 2002 AP