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Europe
Airbus sets aside 1.0 billion euros for A380 compensation
2006-10-10
It won't be enough.
LONDON (AFP) - European aircraft maker Airbus has set aside around 1.0 billion euros (1.26 billion dollars) to compensate airlines for delays in delivery of its troubled A380 superjumbo.

The Daily Telegraph newspaper said that the estimate, which was equivalent to 690 million pounds, was contained within the 4.8-billion-euro loss forecast last week as a result of chronic delays to the flagship A380.

Airbus has not made no provisions however to cover possible cancellations from airlines for the 134 orders taken so far, the report said Monday. Airbus hoped it could "satisfy angry customers by either reducing the cost of the sales package or easing their pain with a compensation offer", the daily added.
Posted by:Steve White

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