Stalwart Despite Setbacks

摘要

AgustaWestland is counting on its solid military business to offset the temporary difficulties of the commercial market. Even though defense budgets may be declining as governments suffer lower revenues in the current economic downturn, AgustaWestland Chief Executive Giuseppe Orsi believes the military business will remain robust. And there is no reason to adjust performance targets for 2009, he notes, even though they were set before the full brunt of the crisis was felt last year.rn"We are not experiencing many contract cancellations," Orsi says. But he does acknowledge that "some clients are discussing delivery deferrals and we are now providing a financial hand to proven, major costumers that have a temporary problem getting cash to pay for new helicopters."