Airbus parent EADS in dire straights

October 20, 2006 by SwizStick  
Filed under Air Cargo, Airlines

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More bad news for Airbus direct from parent company EADS:

Delays to the Airbus A380 superjumbo jet program mean that it will now have to sell 420 planes to break even compared with a previous estimate of 270, the parent group EADS has said.
 
The plane has an average catalogue price of 306 million dollars (244 million euros), and 159 firm orders have been received so far from 16 airlines.

The negative financial impact of the delays, which now stand at almost two years, will lead to a loss of earnings totalling 6.3 billion euros between now and 2010, the European Aeronautics Defence and Space Company said Thursday.

This year, the delays would trim 1.1 billion euros from core profits, expressed as earnings before interest and tax (EBIT), EADS added.

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2007 Looking like a tough year for Airbus