PW2 said:
The relative weakness of the US dollar vs the Euro might have something to do with it as well.
possible, but...deliveries on an aircraft order placed today begin months (maybe a year or more) in the future. Example, the first delivery against an order placed today for 24 aircraft might be scheduled for June '07, with one or maybe two per month for the following 12 to 24 months; the last delivery might be 2 1/2 years down the road. They won't lock in an exchange rate. Either company might independently hedge by buying futures in the other currency.
BTW delivery price in those contracts is always indexed to some agreed-upon combination of economic factors, which typically include at a minimum a published metals price index and a wage index.