RPT-UPDATE 4-Airbus hit by new A380 delivery delay

Tue May 13, 2008 11:06pm BST
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By James Regan and Tim Hepher

FRANKFURT/PARIS (Reuters) - Planemaker Airbus announced another delay in deliveries of its A380 superjumbo on Tuesday, deepening the woes of Europe's biggest industrial project and risking further penalty payments to airlines.

Airbus said it was unable to boost production as quickly as it hoped as it tries to recover from two years of production delays caused by problems in installing the wiring on the world's largest passenger plane.

Airbus now plans 12 instead of 13 deliveries in 2008 and 21 instead of 25 in 2009.

"Details about the new plan, and the further ramp-up and delivery slots in 2010 and the following years, will be discussed with customers in coming weeks," it said in a statement.

It gave no details on the financial impact of the latest delays to the aircraft, already two years behind schedule.

"We are in a four-year recovery programme. We have to make some progress but we are not back to square one," Chief Executive Tom Enders told reporters in a conference call.

The announcement followed hints of delays that sent shares in Airbus parent EADS (EAD.PA: Quote, Profile, Research) down last week, and they dipped only 0.1 percent to 15.72 euros on Tuesday.

It was the fourth time Airbus had announced delays in delivering the 525-seat double-decker plane. But damage to the production schedule was not as severe as some had expected.  Continued...

 
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