Feeds

Airbus falls to first ever loss

Delayed A380 blamed

Protecting users from Firesheep and other Sidejacking attacks with SSL

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
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?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.