Friday September 08, 2006 | ${log.root}/lowem.log Inflation, Investing and Everything |
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The Airbus A380, the world's largest commercial airliner, took its first passengers aloft on a test flight, as the company announced a fresh management shakeup to grapple with delays plaguing the superjumbo. The Airbus parent EADS, the European Aeronautic Defence and Space company, announced in June that deliveries of the A380 to commercial customers would be delayed by at least a year because of production setbacks. That revelation, coupled with a warning that EADS could suffer a two-billion-euro decline in operational earnings by 2010, jolted the company and prompted the resignation of EADS co-chief executive Noel Forgeard and Airbus president Gustav Humbert. Boeing is now well ahead of Airbus this year in orders after dominating its US competitor for the previous five years. Airbus in the first seven months of 2006 received 200 firm orders for its commercial planes to 518 for Boeing. See also : 1. Heads of EADS, Airbus resign over A380 delays (2006-09-08 08:13:33 SGT)
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