Aircraft maker Airbus SAS has scrapped its goal of selling 30 A380 superjumbo jets this year, because airlines' appetites for jumbo jetliners isn't quite as big as the European aerospace giant had expected.
Airbus is slated this year to deliver one of the four A380s bought by Russia's AK Transaero OAO (Moscow: TAER) in a deal worth $1.58 billion, according to the company. That's four down -- in the first six months of the year -- and 26 to go in the next six months.
It turns out that carriers are going for smaller, more efficient aircraft in the global economic doldrums. Smaller planes are easier to fill and less painful to fill up. Jet fuel, also known as kerosene, is the biggest expense for an airline.
"The big aircraft market has been slowing down," Airbus Sales chief John Leahy told Bloomberg News at the Farnborough International Airshow on Wednesday.
European Aeronautic, Defence & Space Co., which owns Airbus, saw its share price decline by 4.66 percent to €26.92 ($33.02).
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