|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Investment News feed Investment News

All Financial News feed All Financial News




Airbus delays A380 deliveries

Bookmark and Share

by Brian Turner
Airbus delays A380 deliveries

European aircraft manufacturer Airbus is delaying deliver of the first of its new A380 super jumbo passenger jets for at least six months.

Both Qantas, which was to take deliver of its first A380s in the autumn of 2006 and Singapore Airlines, which was to get its first A380 in the second quarter of next year, have said that they now expect delays.

Qantas expects to get the first of the 12 planes it ordered in April of 2007, while Singapore Airlines said that Airbus told it that they would begin receiving their order in the last quarter of 2006. Qantas said that it would be looking for compensation for the delays as stated in its contract.

A spokeswoman for Airbus said that the first test flights of the A380 had revealed “industrial issues”, necessary modifications, and issues over customizations that some airlines had requested for their planes.

Also a factor was the effort to keep the weight of the aircraft down. The spokeswoman also clamed that no new aircraft had ever been delivered on time.

The delay comes at a bad time for Airbus as its parent company, EADS, has had to deal with conflicts among some shareholders over management structure and as the US and European Union continued fighting over issues related to government subsidies for civil aircraft development.

The delays will only add to the problems for Airbus, EADS and minority shareholder BAE Systems as cash flow will be affected.

Discuss this in the Finance Markets forums

Story link: Airbus delays A380 deliveries



News posted: June 3, 2005

Financial Services:





Related financial stories to: Airbus delays A380 deliveries:
Previous: «
Next: »

Visited 1465 times, 11 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.