Vegas Flyer
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- Joined
- Oct 19, 2002
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- 33
Airbus loses altitude
Shares in Airbus parent EADS plummeted by as much as 29 percent today after the European defense company warned that production of its new, 555-seat A380 superjumbo jet would be delayed by up to seven months. For a strong, government-backed company to fall so sharply "in one sitting is an absolute catastrophe of the highest order," said Cantor Index strategist David Buik. (MarketWatch.com) Airbus blamed a "bottleneck" caused by wiring changes. Singapore Airlines, Emirates, and Qantas now will get less than half of the A380s they had planned to launch next year, said John Leahy, Airbus' chief operating officer. "They're not particularly happy about that," he said. (The New York Times, free registration required)
Shares in Airbus parent EADS plummeted by as much as 29 percent today after the European defense company warned that production of its new, 555-seat A380 superjumbo jet would be delayed by up to seven months. For a strong, government-backed company to fall so sharply "in one sitting is an absolute catastrophe of the highest order," said Cantor Index strategist David Buik. (MarketWatch.com) Airbus blamed a "bottleneck" caused by wiring changes. Singapore Airlines, Emirates, and Qantas now will get less than half of the A380s they had planned to launch next year, said John Leahy, Airbus' chief operating officer. "They're not particularly happy about that," he said. (The New York Times, free registration required)