A380 jet to be delayed a year, customers not happy.
Bidness: As Boeing does a dance with huge amounts of alcohol being consumed in celebration.
|PARIS (AP) -- Airbus parent EADS said Tuesday that the flagship A380 superjumbo jet will be delayed for another year and Virgin Atlantic and Emirates -- the plane's biggest customer -- hinted that the new setbacks could lead to order cancelations. In a statement issued after its second board meeting in four days, EADS said the latest delays will cut an extra 2.8 billion euros ($3.6 billion) off operating profit and announced a restructuring plan to cut costs and boost productivity at Airbus. Airbus sees "no significant signs" that cancelations are likely from any of its A380 customers, CEO Christian Streiff said during a conference call with reporters and analysts. "Until now, everybody's still on board." But Dubai-based Emirates signaled that its bumper 45-plane order, worth over $13 billion at list prices, could be in doubt after suffering a further delay of 10 months. "This is a very serious issue for Emirates and the company is now reviewing all its options," Chief Executive Tim Clark said in an e-mailed statement. Virgin Atlantic Airways Ltd. spokesman Paul Charles said the carrier will be reviewing its six-plane order at an Oct. 12 board meeting, with "all options" on the table. "The depths of the delays have serious implications," he said.|