Today’s top business headlines with ChristineRomans before the opening bell: - Trade optimism continues on Wall Street - Car loan delinquencies hit record high - Airbus ending A380 program - Google to invest $13B in data centers and offices
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Airbus to stop making struggling A380 superjumbo in 2021TOULOUSE, France (AP) — European aviation giant Airbus says it will stop making its superjumbo A380 in 2021 after struggling to sell the world's biggest passenger jet. Airbus said in a statement Thursday that Emirates is cutting back its orders for the plane and as a result 'we have no substantial A380 backlog and hence no basis to sustain production.' The decision is a boon for rival Boeing and a blow for Airbus. Airbus had hoped the A380 would squeeze out Boeing's 747 and revolutionize air travel as more people take to the skies.
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The Latest: Airbus reports profit jump despite A380 lossesTOULOUSE, France (AP) — The Latest on European aviation giant Airbus' announcement that it will stop making its superjumbo A380 (all times local): 7 a.m. Airbus has reported a 29 percent rise in profits for 2018 despite losses of 899 million euros ($1 billion) from its troubled A380 superjumbo jet and A400M military transporter plane. The company reported Thursday net profit of 3.1 billion euros over last year, up from 2.4 billion euros in 2017. Revenues were up 8 percent to 63.7 billion euros, including from its defense business. Airbus announced earlier Thursday that it will stop making the iconic A380 plane and reported a charge of 463 million euros related to that decision. In addition the plane maker reported a charge of 436 million euros on the A400M, used by several European militaries. Airbus said it forecasts similar profits in 2019 in line with growth in the world economy and air traffic.
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Airbus To Stop Production Of A380 Superjumbo JetThe European company says it has no reason to continue production after its biggest customer cut back its orders. Despite much fanfare, the double-decker plane has struggled to find a market.
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The rise and fall of the Airbus A380 superjumboThe plane struggled to gain clients as long-haul flight trends changed.
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