Shares in European Aeronautic Defense & Space, the parent company of Airbus, plummeted Wednesday, wiping €5.5 billion off its market value, as a fresh delay in the delivery of the new double-decker A380 airplane raised questions about the company's management and strategy.
EADS stock slid as much as a third after the French-German company warned late Tuesday that a delay of six to seven months in the A380 delivery schedule would probably reduce operating profits by a total of €2 billion between 2007 and 2010. Several leading customers for the aircraft, including Singapore Airlines, Emirates and Qantas Airlines, suggested that they would seek compensation for the delay, adding momentum to the sell-off...
IHT won't let me copy 'n' paste the rest... |