For the first time since 2000, European aircraft manufacturer Airbus, which received orders for 790 planes in 2006, fell behind Boeing, which posted orders of 1,050 in the same period, announced Airbus Chief Executive Louis Gallois on January 17.

In terms of delivery, Airbus remained the No. 1 commercial jet maker with 434 planes, 36 more than its U.S. rival.

"2007 will be a turning point for Airbus," the chief executive said, saying that the company's restructuring plan, known as "Power 8," aimed at cutting cost and catching up with Boeing, would be announced in February.

Airbus has been experiencing financial crisis following the delivery delay of its superjumbo A380. The two-year delay has led to order cancelations and a 4.8 billion euro (6.2 billion U.S. dollars) profit waning.