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A380 Business Case Sensitivity Analysis
2005 updated Business Case:
• IRR outlook: 19%
• Breakeven point: 270 a/c
• Expected deliveries: 751 a/c
• Long term €/$ rate : 1.12
2006 updated Business Case:
• IRR outlook : 13%
• Breakeven outlook: 420 a/c
• Expected deliveries: 751 a/c
• Long term €/$ rate : 1.12 ( outlook )
The main parameters of A380 Business Case have changed significantly
Strong deterioration of IRR reflects the impact of delayed deliveries (-4% )
and cost overruns linked to major disruptions in the ramp-up phase (-2% )
With starting reference 2007 notional A380 breakeven is 150 a/c
Conclusion
• A380 delays have a significant impact on 2006/2010 profitability
• Measures undertaken through Power8 to mitigate financial impacts
But:
• More than 80% of (A380 R&D + Capex) will be spent at end of 2006
• The A380 program remains strongly profitable beyond 2010
• A380 will generate €9bn NPV from 2007 till 2021
• A380 customers are still on board and new customers will come
http://www.eads.com/xml/content/OF00...4/41485740.pdf (стр. 17-18)
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