Confirmation of further delays to the Airbus A380 have seen shares plummet in its parent group, EADS. The European Aeronautic, Defence and Space company dropped ten percent during early trading in Paris. The first A380 delivery has been pushed back to October next year but Airbus boss, Christian Streiff says all Airbus’ customers remain firmly “on board”.
But, this latest delay, the third setback in six months, will hit Airbus hard in its pockets and present a lucrative opportunity for its US rival Boeing. EADS says it now expects an extra two point eight billion euros to be wiped from its profits over the next four years, on top of the two billion announced in June.