Keyword: airbust

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  • Taped phone call turns up in Airbus insider-trading case

    05/12/2007 2:52:17 PM PDT · by Excuse_My_Bellicosity · 5 replies · 889+ views
    Seattle Post-Intelligencer ^ | May 11, 2007, 8:06 p.m. PT | HEATHER SMITH
    An investigation of insider trading at the European Aeronautic Defense and Space Co. has come across a taped call regarding discussions of production delays for the Airbus A380 that took place three months before the setbacks were disclosed and EADS shares tumbled 26 percent. Jean Galli Douani said he met with French financial police at their headquarters May 2 at the request of investigating judge Xaviere Simeoni. Douani, who unsuccessfully tried to buy Airbuses, said he taped a phone call with an Airbus executive about the A380 discussions at the March 2006 meeting. "I told them (the police) that I...
  • Branson Turns His Back On Airbus

    04/26/2007 9:21:48 PM PDT · by Excuse_My_Bellicosity · 36 replies · 1,292+ views
    Forbes ^ | 4/26/2007 | Parmy Olson
    LONDON - Flanked by a large red background and perched on a row of stools together with a set of Boeing executives, Richard Branson hardly looked like the flaxen-haired poster boy of Airbus on Tuesday. The founder of Virgin Group and Virgin Atlantic, irked last year by the delay in the European plane maker's A380, looked to have stuck the knife into his European supplier by ordering 15 of its arch rival Boeing (nyse: BA - news - people )'s 787 Dreamliners. Virgin also took an option for eight 787s and purchase rights for 20 other aircraft, a deal potentially...
  • Sales of A380 not taking off

    03/18/2007 10:51:31 AM PDT · by Excuse_My_Bellicosity · 21 replies · 1,278+ views
    Chicago Tribune ^ | March 18, 2007 | JULIE JOHNSSON
    As the biggest commercial jet ever made swoops into Chicago for the first time Tuesday, Airbus SAS, the plane's European maker, has yet to find a U.S. airline buyer. Manufacturers typically show off new planes to buyers and members of the media through demonstration flights -- barnstorming tours such as this week's inaugural visit. That the A380 is stopping in the Midwest on its maiden voyage to the U.S. is no coincidence, analysts say. Elk Grove Township-based United Airlines and Minneapolis-based Northwest Airlines Corp. are considered the two likeliest purchasers in an otherwise tough market for the superjumbo jet. Airbus...
  • Airbus: the bad news continues.

    03/07/2007 12:11:56 PM PST · by lowbuck · 21 replies · 1,463+ views
    American Thinker ^ | 7 March 2007 | Thomas Lifson
    More evidence accumulates that Airbus' focus on it's a 380 super jumbo has robbed the company of the ability to produce competitive aircraft in other, much larger and more important market segments. reports that Airbus orders for new aircraft have fallen to a six month low, with no wide body sales at all in the last month. "Airbus plane orders have been increasingly dominated by lower-margin single-aisle jets as it wrestles with development problems in its 200-350 seaters and its delayed superjumbo." Air Canada, which has been a very good customer for Airbus, is replacing its young fleet of...
  • The Airbus Tragedy

    03/07/2007 1:59:30 AM PST · by lowbuck · 17 replies · 859+ views
    The American Thinker ^ | 7 March 2007 | Thomas Lifson
    Like characters in an ancient Greek tragedy, players in the Airbus drama are betraying their fatal flaws, and moving, almost inevitably, toward a dénouement that will bring serious misfortune to all. Despite failure upon failure, no one is willing to suggest openly killing the troubled A 380 program, which seems to destined to drag down not just the still viable parts of the company, but also the workers, localities hosting factories, and even the governments of France and Germany. Airbus wanly puts an official happy face on the setbacks of the past week, and is squandering its credibility - an...
  • National Mistrust Poisoned Airbus

    03/02/2007 8:06:44 AM PST · by lowbuck · 14 replies · 683+ views
    Spiegel Online ^ | 1 March 2007 | Andreas Nölting
    Airbus has delayed dealing with its problems for years. Now it is being brutally restructured with factory sell-offs and massive job cuts. How could a supposedly model company like Airbus end up in such a crisis? snip. . . From the very beginning Airbus was a political construct and was at least partly intended to satisfy national egotism. And so two managers -- usually one German and one French -- were always appointed to the decisive posts in the company, as if the business partners mistrusted each other.
  • UPS to Cancel Airbus Order

    03/02/2007 7:09:33 AM PST · by Fractal Trader · 22 replies · 520+ views
    Wall Street Journal ^ | 2 March 2007 | MIKE BARRIS
    United Parcel Service Inc. said Friday it will cancel an order for 10 Airbus A380 freighter aircraft because it is "no longer confident" that the plane-maker can deliver the planes on schedule. UPS is the last remaining customer for the freighter version of Airbus's A380 plane. FedEx Corp. and International Lease Finance Corp., a unit of American International Group Inc., canceled their orders last year amid repeated delays to the superjumbo's construction schedule. Airbus said Thursday it had frozen work on the A380 freighter program and will use the spare capacity for delayed passenger versions of the plane. Michael Hauger,...
  • Airbus Curtails Production Of A380 Freight Superjumbo

    03/01/2007 12:56:24 PM PST · by magellan · 56 replies · 1,568+ views ^ | 1 March 2007 | David Rising
    Financially troubled European airplane manufacturer Airbus has stopped work on the freight version of its new A380 superjumbo so it can focus more on the troubled passenger version of the aircraft, a spokesman for its parent company said Thursday. "The work on the freight version of the A380 has just been temporarily cut off ... so that all capacities can be directed at the A380 passenger version," said Michael Hauger, spokesman for the European Aeronautic Defence & Space Co., in a telephone call from Munich. Last week, United Parcel Service Inc. (UPS) postponed taking delivery on the A380 freight version....
  • Airbus proposals fly into a storm as workers walk out.

    03/01/2007 8:09:17 AM PST · by lowbuck · 61 replies · 968+ views
    Times Online ^ | 1 March 2007 | David Robertson
    Airbus announced its long-awaited restructuring proposals yesterday, and French and German workers responded swiftly by staging a walkout. The company plans to cut 10,000 jobs, outsource three factories and sell or close a further three. Despite a record order book worth €200 billion (£135 billion), the European aircraft manufacturer has been struggling with the weak dollar and the high costs of its inefficient structure. Louis Gallois, the chief executive of Airbus, set out yesterday how he intended to simplify the company’s pan-European operations to free money and engineering talent to build the company’s next aircraft, the €10 billion A350. The...
  • Strike threats loom ahead of Airbus restructuring plan

    02/27/2007 4:38:59 PM PST · by Excuse_My_Bellicosity · 226+ views
    Times Online U.K. ^ | February 28, 2007 | David Robertson
    Airbus, the troubled European aircraft manufacturer, will announce its restructuring plans today amid political posturing and industrial action. Trade unions said yesterday that job losses and factory closures could spark Europe-wide strikes. Workers at one Airbus plant outside Paris spontaneously downed tools and walked out yesterday at the threat that their facility could close. Airbus is hoping to save €2 billion (£1.4 billion) a year through a series of cuts after delays to its A380 superjumbo cost the company billions in lost earnings. The Power 8 restructuring plan is expected to see about 3,500 jobs go in Germany and 4,000...
  • British Airways ordering 4 Boeing 777s, rejecting Airbus's A330

    02/21/2007 9:58:08 AM PST · by ConservativeStatement · 3 replies · 530+ views
    AP ^ | February 21, 2007 ·
    LONDON -- British Airways PLC said Wednesday it ordered four Boeing 777-200 Extended Range aircraft to bolster its fleet. The aircraft will be delivered in 2009, the airline said in a statement. British Airways said it also took options for four more aircraft for delivery the following year. "It was a close decision between the Boeing 777s and Airbus A330s," said Robert Boyle, British Airways' commercial director. Boeing Co. said it was working with British Airways to finalize the order, but was pleased the carrier had agreed to purchase the twin-aisle, twin-engine jets.
  • Airbus: Will the EU’s Champion Go Airbust?

    02/17/2007 2:45:11 PM PST · by lowbuck · 36 replies · 1,144+ views
    The Brussels Journal ^ | 17 Feburary 2007 | Elaib Harvey
    I understand that this week there was a general board meeting of Airbus Industries. At that meeting the executives were presented with a plan to save the troubled European National Champion. These plans, called Power8, should be made public on Tuesday next week. I also understand they won’t be. Airbus needs to save over 1 billion Euro a year. The plan was, I was told, to lay off all contract staff, which would mean thousands of job losses across the EU, in particular in France, Germany, Spain and the UK. Of course if this was a business in the normal...
  • Airbus Does Fly By on LAX:

    02/15/2007 1:51:13 PM PST · by Paleo Conservative · 34 replies · 2,293+ views
    Los Angeles Business Journal ^ | 2/15/2007 | By ALLEN P. ROBERTS Jr.
    Los Angeles airport officials said Wednesday that Airbus officials reneged on a promise to bring the new A380 jetliner to Los Angeles International Airport on its first U.S. test flight after the airport spent $9 million to accommodate the huge jet. Los Angeles World Airports officials claim that Airbus executives told them early last year that it would bring the A380 to LAX on its maiden U.S. flight if the airport expedited construction of a $9-million gate to accommodate the jet for an August 2006 flight, the Los Angeles Times reports. That was delayed after the jet experienced a...
  • Monday view: Airbus could trigger 'nuclear option' of currency controls

    11/28/2006 9:52:38 AM PST · by Paleo Conservative · 32 replies · 1,526+ views ^ | 1:59am GMT 27/11/2006 | Ambrose Evans- Pritchard
    If you have funds across the Channel, or a ferme in Acquitaine, be vigilant. Keep a close eye on Europe's press, because you might one day find your money is nailed more immovably to its Continental home than you had thought. Four years ago, a small "cellule" inside the European Commission was ordered to draft a report, instigated by Paris, examining the legal basis under EU treaty law for 1970s-style exchange controls. It concluded that Brussels may lawfully freeze capital flows in and out of the EU, and within it, and that this could be done by a "qualified...
  • Airbus Blamed for Poor French Economic Growth

    11/18/2006 9:20:18 PM PST · by Paleo Conservative · 139 replies · 2,094+ views
    Yahoo! News ^ | Thu Nov 16, 4:30 PM ET | Thomas Lifson
    French economic growth is slumping and the problems at Airbus are getting blamed for it. The two year delay in delivery of the A380 super jumbo is reverberating throughout the French and EU economies. Politics, always a factor at the mammoth "social enterprise," continues to intrude, as fear of unemployment and fear of failure motivate politicians to take measures dumping yet more tax money into Airbus. The aerospace business, at the level occupied by Airbus and Boeing, is mind-bogglingly complex, technologically sophisticated, and extremely large in scale. Inevitably, the national interests of great nations are at stake in the...
  • Airbus to decide on future of troubled A350

    11/14/2006 1:16:17 PM PST · by Zakeet · 35 replies · 951+ views
    Agence France-Presse ^ | November 15, 2006
    IRBUS would decide before the end of the month on whether to go ahead with its A350 jetliner, with the launch dependent on the success of a restructure, chief executive Louis Gallois said today. The A350, a long-haul mid-sized plane, has been drawn up by Airbus as a competitor for Boeing's popular 787 Dreamliner and 777 long-haul planes, but its development costs have been estimated at $US10 billion-$US12 billion ($13bn-$16bn). Mr Gallois said the A350 program depended on implementation of a restructuring plan aimed at slashing production costs, cutting jobs and streamlining suppliers to the Toulouse-based group. "We will not...
  • Airbus tags more cash for A350

    11/05/2006 9:18:22 AM PST · by Excuse_My_Bellicosity · 10 replies · 439+ views
    International Harold Tribune ^ | November 3, 2006 | Andrea Rothman
    TOULOUSE, France: Airbus plans to increase spending by 20 percent, to $12 billion, to develop its A350 jet, a long- range plane that would be made mainly of lightweight carbon fiber, two people with direct knowledge of the proposal said Friday. The European plane maker, which is trailing Boeing in new orders this year, will present designs for the A350 XWB to its parent company, European Aeronautic Defense & Space, on Tuesday, according to the people, who declined to be identified before an announcement. The plane is the sixth attempt by Airbus to come up with a rival to Boeing's...
  • Further blow for Airbus as Virgin delays A380 order

    10/28/2006 8:50:56 AM PDT · by Excuse_My_Bellicosity · 13 replies · 677+ views
    The Scotsman ^ | Fri 27 Oct 2006 | NICK BEVENS
    VIRGIN Atlantic, the UK airline owned by Sir Richard Branson, is to defer its order for the new Airbus A380 by four years. In a further blow to the troubled aircraft maker - owned by European group EADS - Virgin, which had ordered six of the new "super-jumbos" for delivery in 2009, now wants to delay their arrival till 2013. There had been speculation that Virgin would ditch the A380 altogether, but the firm now wants the aircraft to prove itself in commercial service for several years before it puts its own into operation. Virgin is instead planning to extend...
  • Major Airbus A380 customer sending in the auditors

    10/28/2006 8:47:21 AM PDT · by Excuse_My_Bellicosity · 18 replies · 862+ views
    LONDON The biggest buyer of the world's largest airliner, Emirates, said Friday that it would send its own audit team to Airbus before entering talks to address the A380 superjumbo's two-year delay and the fact the plane is 5.5 tons overweight. "We have not yet engaged with Airbus as regards not only the delay but the fact it is overweight," the president of Emirates, Tim Clark, said. Clark was in London to open a new lounge at Heathrow Airport designed for the A380, which will now not see one of the planes until the third quarter of 2008. He said...
  • Emirates yet to speak to Airbus on A380 concerns (5.5 tonnes overweight!)

    10/27/2006 7:42:00 AM PDT · by SW6906 · 45 replies · 1,491+ views
    Reuters ^ | 10/27/06 | Reuters
    LONDON, Oct 27 (Reuters) - The biggest buyer of the world's biggest airliner, Dubai-based carrier Emirates [EMAIR.UL], said on Friday the Airbus A380 was 5.5 tonnes overweight in addition to two years behind schedule. However, it has not yet started negotiations with the plane maker regarding these issues, Emirates President Tim Clark told reporters while visiting a new lounge at London's Heathrow Airport designed to handle Emirates' A380s. ... The airline's first A380 is now expected to be delivered in August 2008, which will force it to lease other aircraft in the interim. ... "It would be foolish to say...