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Airbus dumps A340 after poor sales

Airbus dumps A340 after poor sales

10 November 2011 16:35 (UTC +04:00)

"We have accepted reality. We have not sold any A340s for nearly two years," Airbus finance director Hans Peter Ring said during a presentation on the third-quarter results of Airbus parent company EADS.

The abandoning of the programme will allow Airbus to write back into its books a provision of 192 million euros ($257 million) it had made on the programme.

The A340 first flew in April 1992 and in 1993 it scored a record for the longest non-stop flight, between Paris and Auckland.

The Boeing 777 launched two years later and had the same capacity but with only two engines it was more fuel-efficient.

Airbus parent company EADS announced overnight a six-month delay in first deliveries of its A350 long-haul jetliner, designed to compete with Boeing’s 787 Dreamliner, but raised its outlook for the year after third-quarter profits surged.

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