Airbus To Stop Production Of A380 Superjumbo Jet

"European aerospace behemoth Airbus has announced it will stop building its A380 superjumbo jet after the plane's biggest customer, Dubai-based Emirates Airline, cut its order by 39 planes."

"Airbus has 'no basis to sustain production, despite all our sales efforts with other airlines in recent years,"' CEO Tom Enders said in a statement Thursday, adding: 'Today's announcement is painful." Airbus says it will deliver its final A380 to Emirates in 2021.'"

"After investing billions into the A380, Europe's largest aerospace company had hoped to overtake its biggest competitor, Boeing's 747 jet. Airbus had once positioned itself as a luxury airplane with enough amenities to rival the seven wonders of the world, which it proclaimed in one commercial ad. Some carriers included showers, lounges and duty free shops as well as bars on both decks of the A380s."

"After a stronger than expected start, Airbus struggled to sell the $446 million plane that can seat more than 800 passengers — the largest and most expensive commercial passenger aircraft ever made, and the first to have two full decks. Most airlines preferred smaller aircraft that were more economical to operate."