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Airbus shares have plunged on the Paris stock exchange after Qatar Airways said it would postpone delivery of the first A350 jet “until further notice.”
Airbus shares slumped more than 10 percent to 43.20 euros in afternoon trading after Qatar Airways, which was due to take delivery of the first A350 on Saturday, announced the fresh delay with no explanation.
In its statement, Airbus said “We are working very closely with Qatar Airways to meet our common goal to deliver their firsts A350 XWB very soon.”
The A350 wide-body aircraft is intended as Airbus’ best hope for catching up in the long-haul market that is dominated by Boeing’s 777 and 787, but has been plagued by years of delays and a multibillion dollar revamp.