Airbus forced to raise jet prices
From Times Wire Services
Airbus said the ever-cheaper dollar and the high cost of metals were forcing it to raise jet prices.
The European plane maker announced increases of as much as $4 million to catalog prices -- besides the 2.74% annual hike for 2007 already programmed.
The extra charge is 1% and 3% of the new catalog prices, effective May 1.
Airbus, which sells its planes in dollars while many of its costs are in euros, says each 10-cent rise in the euro against the dollar costs the company 1 billion euros ($1.59 billion).
To protect itself, Airbus parent EADS is remodeling its business to shift more of its costs into dollars.
