This article from NYTimes.com has been sent to you by psa188@juno.com. Airbus Plays Down Payment Delay March 4, 2003 By REUTERS Filed at 8:33 a.m. ET PARIS (Reuters) - European plane maker Airbus SAS said on Tuesday that its exposure to bankrupt U.S. airline US Airways was unchanged following news the carrier had not made payments of $44.5 million related to 23 Airbus aircraft. Airbus also said that financing of the 23 planes had been shared between a number of different parties, meaning that its hypothetical exposure to the money owed by US Airways was limited to 15 percent of the total amount. ``These payments are to be recovered as part of the reorganization of the airline, currently under Chapter 11 proceedings,'' Airbus said. ``As a result, Airbus does not envisage changing its assessment of its financing exposure to US Airways.'' US Airways Inc. said on Monday it did not make certain payments due on trust certificates related to the Airbus planes. The company said it was in discussions with interested parties regarding the payments and expected to reach an agreement during the five-business-day cure period allowed under the certificates. The news sent shares in Airbus parent EADS down sharply. At 1315 GMT, they stood 7.4 percent lower at 7.50 euros. Analysts, however, took the news in their stride. ``It's not a new problem and it's a problem under control,'' one sector analyst said, adding that Airbus was not scheduled to deliver any planes to US Airways this year or next. But traders said the news underscored the difficulty of aircraft makers that face a grim 2003 due to global economic weakness and fears tied to the Iraq crisis. ``This is one more bit of negative news in a sector where visibility is nil because of the economic slowdown and geopolitical fears,'' said one trader. EADS shares are down 23 percent this year and hovering just above an all-time low of 7.25 euros hit late last month. The stock fell 30 percent last year amid soft demand for commercial jets. http://www.nytimes.com/reuters/business/business-transport-airbus-usairways.html?ex=1047786393&ei=1&en=01aa6b4c1ffb7a09 HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@nytimes.com. Copyright 2002 The New York Times Company