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Airbus reports loss
AIRBUS has recorded its first full-year loss after plunging more than 1.7 billion (£1.1bn) into the red over the last three months of 2006, and parent group EADS added to the bleak outlook for the struggling planemaker by cautioning that it faced another "substantial loss" this year. Louis Gallois, co-chief executive, blamed the spiralling costs of the A380 superjumbo programme.
Airbus ran up full-year losses of 572m against profits of 2.3bn in 2005. The firm recently announced 10,000 job cuts, 1,600 in the UK.
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Thursday 24 May 2012
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