By Nicholas Larkin

TV Interview: Paris Air Show

July 17 (Bloomberg) -- William Alderman, president of New York-based investment bank Alderman & Co., which focuses on aerospace and defense, comments on Airbus SAS and Boeing Co. Alderman spoke in a televised interview from Farnborough, England.

On the new Airbus $10 billion aircraft, designed to compete with Boeing:  ``They may be a little late. A delay for a week, a month, six months, a year, doesn't tell a 20 year story on a product. But they're behind. They're at least two years behind the 787. ``It's another big bet for Airbus, when its current big bet is having some big problems.''

On Boeing: ``If you go back to 1997, Boeing had record losses from commercial aircraft, because they had production problems. ``They're not

going to rub salt in the wounds of a competitor, knowing that it might be them in six years doing the exact same thing.'' 

On the Boeing 787:``I think that Boeing is doing a good job with its aircraft. It uses new technology in designing and engineering, and computer aided tools to build the aircraft and design. I think there's less risk today for the 787 than we saw with the 76, 75 and the 73 lines a few years ago. ``Is there no risk? No. In this business there's no such thing as no risk.''

On Airbus executives: ``They need the management changes they've started. ``It's going to be some time before the A380 and Airbus have their house in order.''