Airbus setback
Gotta love it when a government-sponsored monopoly takes it in the shorts.
From
Yahoo/AP:
Airlines pummel Airbus over A380 delays
Airlines around the world punished Airbus on Wednesday for delays in the delivery of its A380 superjumbo, demanding compensation, reconsidering orders — and in one case, striking a major deal with its rival Boeing Co.
Shares in Airbus' parent company crashed and Boeing's soared as repercussions of the production problems with the world's biggest passenger plane resonated throughout the industry.
They also raised questions about the European planemaker's management and strategy, and the future of the double-decker A380. Boeing is staking its bets on a smaller, more fuel-efficient model.
Singapore Airlines, one of the world's top carriers and the first to buy the A380, said it was unhappy with the delays Airbus announced Tuesday. It demanded compensation and, on Wednesday, worsened the blow by announcing it would buy 20 Boeing 787-9 aircraft worth $4.52 billion and take options on another 20 planes.
Emirates Airlines, another sought-after buyer, said it was reconsidering its order of 45 A380s. Australia's Qantas Airways said it was seeking talks with Airbus over its orders for 12 A380s and wants some of its money back. Malaysia Airlines said it was reviewing terms of its deal for six of the planes.
Wikipedia has a nice writeup on
Airbus' parent company.
Posted by DaveH at June 15, 2006 9:30 PM