Airbus SAS has ended production of its four-engine A340 aircraft after the jet with the company’s longest fuselage lost out to Boeing Co.’s twin-engine 777 model.
Airbus, the world’s largest maker of commercial aircraft, announced the end of the program today as parent European Aeronautic, Defence & Space Co. reported earnings. Terminating the program will lead to an operating gain of 192 million euros ($261 million), EADS said, without explaining why it’s concluding production of the jet that started service in 1993.
“In an environment where the fuel price is high, the A340 has had no chance to compete against similar twin engines, and the current lease rates and values of this aircraft reflect the deep resistance of any airlines to continue operating it,” said Bertrand Grabowski, managing director of the transport group at DVB Bank SE, among the biggest aircraft financiers in Europe.