Airbus parent EADS pounded over A380 delays
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PARIS/MELBOURNE  - Airlines were forced to review growth plans and investors hammered the shares of Airbus parent EADS on Wednesday after the European planemaker announced more delays to its A380 superjumbo.
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European aerospace group EADS   will unveil restructuring measures aimed at saving 2 billion  euros ($2.53 billion) a year this week after new delays in  deliveries of its A380 superjumbo, financial daily Les Echos  reported, without quoting sources.
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Shares in Airbus parent firm EADS fall by almost 4%, after the firm suspends work on a freight version of its A380 superjumbo.
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EADS is grappling with a burgeoning controversy at its aircraft unit Airbus that has exposed communications lapses and threatens to revive Franco-German friction at the heart of the European aerospace group.
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EADS&#039; top four executives have met in Munich but took no decisions on how to end the aerospace group&#039;s management crisis prompted by the superjumbo Airbus A380&#039;s production delays.
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European aerospace group EADS has admitted that its Airbus superjumbo airliner is set for further delays, after a newspaper report said huge cost cuts and a production switch out of the eurozone were being considered.
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Airbus revealed new delays for its   troubled A380 superjumbo jet on Thursday, blaming a repeat of   wiring installation problems which have already pushed the   programme a year behind schedule and hit future profits.
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The Airbus A380 superjumbo project is running 1.45bn euros (Â£1bn; $1.9bn) over budget, the firm's majority owner EADS admits.
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Airbus and its parent company EADS could disclose new delivery delays for the A380 superjumbo as well as a restructuring plan for the aircraft manufacturer following a meeting of EADS directors.
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European aircraft maker Airbus is facing further delays in the delivery of its A380 superjumbo airliner, for as much as six months, a newspaper reported.
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European aerospace group EADS  will unveil restructuring measures aimed at saving 2 billion euros ($2.53 billion) a year this week after new delays in deliveries of its A380 superjumbo, financial daily Les Echos reported, without quoting sources.
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Airbus parent EADS posted higher-than-expected nine-month earnings on Thursday driven by a strong performance in commercial aircraft and raised its 2004 targets.
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The world's airlines were forced to review growth plans on Wednesday after Airbus parent EADS  again pushed back first delivery of its troubled A380 superjumbo.
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Airbus parent EADS  on Monday postponed a major restructuring announcement planned for Tuesday, saying its European political backers could not agree on how to share out construction of its future A350 aircraft.
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PARIS -- Lufthansa and Emirates said Tuesday that their orders for A380 superjumbos will be delayed by up to a further year, and Airbus parent EADS was expected to reveal the full extent of production problems holding back its flagship jet program.
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Disagreement over the funding of a $10-billion new plane project at Airbus has forced parent firm EADS  to cancel a Friday board meeting which was due to decide on whether to go ahead with the development, an industry source said on Friday.
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Airbus parent EADS  decided on  Friday to go ahead with a new mid-sized jetliner to strike back  at Boeing  in their fight for market share and restore  pride shattered by delays to its A380 superjumbo.