T-Bird76
2006-09-20, 12:00 PM
AP
Report: Airbus to Announce Delay to A380
Wednesday September 20, 7:07 am ET
Report: Airbus to Announce New Six-Month Delay to A380
PARIS (AP) -- Airbus is set to announce a further six-month delay to its flagship A380 superjumbo jet, French financial daily Les Echos reported Wednesday.
Without citing sources, the newspaper said the new production hitch was caused by problems at the A380 assembly plant at Airbus headquarters in Toulouse, southern France.
Some A380 customers will receive their planes as much as 18 months after the original delivery date, according to a new schedule to be announced "in the next few days," the newspaper said.
Shares in European Aeronautic Defence and Space Co., which owns 80 percent of Airbus, opened 3.2 percent lower Wednesday but had recovered to euro22.60 (US$28.60) by midday, 0.5 percent below Tuesday's close.
The company declined to comment on the Airbus delivery schedule, pending an internal audit of A380 production that is ongoing. The results of the audit are set to be presented at an EADS board meeting Sept. 29.
Air France-KLM said Wednesday it had received a revised A380 delivery schedule from Airbus, but declined to give details. Cologne, Germany-based Lufthansa AG said it had yet to receive any new timeframe. Virgin Atlantic did not immediately return a call.
Airbus said in June that the first delivery to launch customer Singapore Airlines was still set for December, but the carrier said Wednesday that the date had yet to be finalized.
"Singapore Airlines is working with Airbus towards delivery of the first A380 in December, but Airbus can only confirm the date after they have completed their technical review at the end of September," said airline spokesman Stephen Forshaw.
Airbus announced a first six-month delay to the A380 program last year. The company then announced further delays of up to six months in June, causing EADS shares to plunge amid a crisis of customer and investor confidence that eventually led to the ouster of EADS co-CEO Noel Forgeard and Airbus boss Gustav Humbert. Charles Champion, the executive who oversaw A380 production at Airbus, was replaced Sept. 5.
Report: Airbus to Announce Delay to A380
Wednesday September 20, 7:07 am ET
Report: Airbus to Announce New Six-Month Delay to A380
PARIS (AP) -- Airbus is set to announce a further six-month delay to its flagship A380 superjumbo jet, French financial daily Les Echos reported Wednesday.
Without citing sources, the newspaper said the new production hitch was caused by problems at the A380 assembly plant at Airbus headquarters in Toulouse, southern France.
Some A380 customers will receive their planes as much as 18 months after the original delivery date, according to a new schedule to be announced "in the next few days," the newspaper said.
Shares in European Aeronautic Defence and Space Co., which owns 80 percent of Airbus, opened 3.2 percent lower Wednesday but had recovered to euro22.60 (US$28.60) by midday, 0.5 percent below Tuesday's close.
The company declined to comment on the Airbus delivery schedule, pending an internal audit of A380 production that is ongoing. The results of the audit are set to be presented at an EADS board meeting Sept. 29.
Air France-KLM said Wednesday it had received a revised A380 delivery schedule from Airbus, but declined to give details. Cologne, Germany-based Lufthansa AG said it had yet to receive any new timeframe. Virgin Atlantic did not immediately return a call.
Airbus said in June that the first delivery to launch customer Singapore Airlines was still set for December, but the carrier said Wednesday that the date had yet to be finalized.
"Singapore Airlines is working with Airbus towards delivery of the first A380 in December, but Airbus can only confirm the date after they have completed their technical review at the end of September," said airline spokesman Stephen Forshaw.
Airbus announced a first six-month delay to the A380 program last year. The company then announced further delays of up to six months in June, causing EADS shares to plunge amid a crisis of customer and investor confidence that eventually led to the ouster of EADS co-CEO Noel Forgeard and Airbus boss Gustav Humbert. Charles Champion, the executive who oversaw A380 production at Airbus, was replaced Sept. 5.