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Airbus halts production of long-haul A340 plane

Airbus halts production of long-haul A340 plane
AFP
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First Published: Thu, Nov 10 2011. 06 07 PM IST

Photo: Bloomberg
Photo: Bloomberg
Updated: Thu, Nov 10 2011. 06 07 PM IST
Paris: European plane maker Airbus said on Thursday it was abandoning production of its A340 long-haul four-engine aircraft, which failed to compete with Boeing’s 777.
Photo: Bloomberg
“We have accepted reality. We have not sold any A340s for nearly two years,” Airbus finance director Hans Peter Ring said during a presentation on the third-quarter results of Airbus parent company EADS.
The abandoning of the programme will allow Airbus to write back into its books a provision of €192 million ($261 million) it had made on the programme.
The A340 first flew in April 1992 and in 1993 it scored a record for the longest non-stop flight, between Paris and Auckland, New Zealand.
The Boeing 777 launched two years later and had the same capacity but with only two engines it was more fuel-efficient.
Airbus parent company EADS announced today a six-month delay in first deliveries of its A350 long-haul jetliner, designed to compete with Boeing’s 787 Dreamliner, but raised its outlook for the year after third-quarter profits surged.
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First Published: Thu, Nov 10 2011. 06 07 PM IST
More Topics: Airbus | A340 | Plane | Production | Boeing |