Feeds

Airbus falls to first ever loss

Delayed A380 blamed

Bridging the IT gap between rising business demands and ageing tools

Airbus has posted the first loss in its corporate history, blaming delays to the A380 superjumbo.

Joint chief executive Louis Gallois told the BBC it was the worst year in Airbus's life.

The company has already announced 10,000 job losses to cope with the two year delay to its primary project.

Although Airbus sold a record number of planes (434 versus 387 in 2005) and increased revenues by 14 per cent to €25.19bn, it still made a hefty loss. The division reported a loss (earnings before interest and tax) of €572m.

It said the financial impact of the delayed plane is €2.5bn. This is made up of: €1.2bn in extra costs and loss making contracts, €0.8bn in payments due now which Airbus expected to pay later, and a further €0.5bn in previously unannounced charges. Hedging currency against the dollar also contributed to the loss.

Parent company European Aeronautic Defence and Space Company brought in revenues of €39.4bn, up 15 per cent, but profits were hit by Airbus problems and are were down to €399m compared to €2,852 in 2005.

More from EADS here. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.