10 Nov '11, 2pm

Airbus halts production of long-haul A340 plane

Airbus halts production of long-haul A340 plane

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: AFP PARIS (AFP) - 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. '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 European Aeronautic Defence & Space Co. (EADS). The abandoning of the programme will allow Airbus to write back into its books a provision of 192 million euros (S$337 million) it had made on the programme. The A340 first flew in April 1992 and scored a record for the longest non-stop flight, between Paris and Auckland, New Zealand in 1...

Full article: http://www.straitstimes.com/BreakingNews/TechandScience/S...

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