Airbus to stop producing A380 superjumbo

European aviation giant Airbus announced it will stop making its superjumbo A380 in 2021 after struggling to sell the world's biggest passenger jet. “Without Emirates, Airbus has no substantial order backlog and no basis to sustain A380 production after 2021,” Guillaume Faure, who is taking over as Airbus CEO from Tom Enders in spring, said.

The Franco-German company had hoped the superjumbo would challenge Boeing's 747 and revolutionise air travel in the 21st century. But after key client Emirates informed Airbus it was cutting orders from 162 to 123 aircraft with no new orders coming, the company has decided to scrap the production in the near future. Airbus will still produce 17 A380s, 14 for Emirates and 3 for Japanese airline ANA

The company has estimated shutdown costs at €463m with a billion euros of European government loans forgiven. The superjumbo loss will for sure force the company to restructure, costing thousands of jobs.

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