The European group Airbus announced on Thursday that it will stop manufacturing its A380 giant aircraft in 2021 after its main customer of this device, Emirates, has decided to modify part of its orders to replace them with the A330-900 and A350-900 models, that seem more efficient.
Emirates, who according to the orders in force until now it should have received 162 A380 planes in totalFinally, it will only keep 123 and, in exchange, it has signed a new contract with Airbus for 40 units of the A330-900 and 30 of the A350-900.
In a statement, Airbus CEO Tom Enders explained that "as a result of that decision, we do not have a substantial A380 order book and, therefore, there is no basis to support the production of the A380, despite of all the sales efforts we have made with other airlines in recent years. "
"This brings us to the completion of deliveries of the A380 in 2021", concluded the CEO of the European group, which managed to increase its profit by 29% last year to 3,054 million euros, despite the financial burden that one more year entailed the program of the A400M military transport plane.
These novelties of the A380 program, a device with capacity for more than 500 passengers that Airbus launched with a view to the saturation problems of the airports of the major world cities, have a negative impact of 463 million euros on the net operating result (Ebit) ) of 2018 of the company, although at the same time they will suppose 177 million euros in the line of other financial results.
Airbus, in any case, achieved a record return last year thanks to a volume of deliveries unparalleled in its history (especially 800 commercial aircraft) and its board will propose to the board the distribution of a record dividend of 1.65 euros per action, 10% more.
That despite the umpteenth provision that had to fit into their accounts for the A400M that is assembled in Seville, this time for 436 million euros.
This additional charge, resulting from an update of the contract estimate with the countries that launched the A400M, reflects mainly the result of the negotiations with these countries, as well as new calculations on the possibilities of exporting it, the increase in prices and the increase of some costs, Airbus said Thursday in a statement.
The European aeronautics and defense giant acknowledged that even with this new negative impact on its accounts, "there are still risks".
Risks on "the development of technical capabilities and associated costs, in the achievement of sufficient export orders on time, as well as in terms of the operational reliability of the aircraft -especially on the engines- and in the reduction of costs with according to the revised baseline. "