Feeds

Airbus falls to first ever loss

Delayed A380 blamed

Secure remote control for conventional and virtual desktops

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. ®

Intelligent flash storage arrays

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.