IONon-votingN, it sucks to be Airbus these days. Their A380 superjumbo has been hit with huge delays, which will cost them billions.
PARIS - FedEx Corp. canceled its order for 10 Airbus A380 jets on Tuesday, the first customer to retract an order for the new jumbo double-decker plane that has been dogged by numerous delays.
The world’s largest express transportation company cited Airbus’ production delays and said in a statement that its FedEx Express unit has ordered 15 Boeing Co. 777 freighters with a list price of $3.5 billion and taken options on an additional 15.
“The availability and delivery timing of this aircraft, coupled with its attractive payload range and economics, make this choice the best decision for FedEx,” said FedEx Chairman and CEO Frederick W. Smith.
Even before all these delays (and this cancelation), the A380 was not selling well and was below the break-even point for the project.