Monday May 5, 12:06 PM
Airbus faces A380 delays, report says pushing downs EADS stock
 |
FRANKFURT (AFP) - Airbus (Paris: NL0000235190 - news) faces more production delays for its A380 superjumbo jetliner and might not be able to deliver the 25 planes promised in 2009, a press report said on Monday causing shares in parent group EADS to fall.
The business magazine Wirtschafts-Woche cited a letter by Airbus chief executive Thomas Enders to customers and company sources.
It also quoted a company source as saying Airbus would "almost" reach this year's delivery target of 13 planes, but was likely to miss the 2009 target of 25 planes.
Airbus, a subsidiary of the European Aeronautic Defence and Space company, declined to comment to the magazine, and a spokeswoman for Airbus, contacted by AFP, declined to comment.
The group, based on French and German interests, is in the throes of a massive restructuring programme involving the disposal of some production sites and the loss of 10,000 jobs following crisis over problems with production of the A380, delays in deliveries and boardroom changes.
The report said there were also doubts about whether Airbus would achieve its target of producing four planes per month.
Enders has ordered a fundamental review of the A380 programme, it added.
The reasons for the delay included quality issues with components produced by suppliers as well as requirements by airlines concerning interior design, which makes production more complex, it said.
In Paris, the price of shares in EADS, which controls Airbus, was showing a fall of 2.41 percent to 16.62 euros. The overall French CAC 40 index was showing a loss of 0.35 percent.
At Lansbanki Kepler, analyst Pierre Boucheny said that EADS shares had fallen partly in line with the market which had been set back by profit taking, and partly by the report in Wirtschaftswoche.
Boucheny said that Airbus and EADS had "not been very clear in their comment."
At Natixis in Paris, analyst Olivier Brochet said: "The announcement of a new delay in deliveries of the A380 would be a blow for the industrial credibility of the group."
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
