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EADS shares drop sharply in Paris after new Airbus delay

EADS shares drop sharply in Paris after new Airbus delay

Shares in Airbus parent EADS fell sharply in Paris Wednesday after the planemaker's announcement that its flagship A380 superjumbo jet will be delayed for another year.
Shares were initially suspended from trading after opening a limit-down 10.8 percent. After an hour of trading, shares had recovered slightly, but were still down by more than 7 percent at just under euro21 (US$26.75) each.
In a statement late Tuesday, after its second board meeting in four days, EADS said the latest delays will cut an extra euro2.8 billion (US$3.6 billion) off operating profit and announced a restructuring plan to cut costs and boost productivity at Airbus.
Virgin Atlantic and Emirates _ the A380's biggest customer _ hinted that the new setbacks could lead to order cancelations.


Updated : 2021-05-17 00:44 GMT+08:00