Airbus Super-Jumbo Sheds Financial Weight in New State Aid Deal
- Restructured terms made superjumbo viable at lower output rate
- Accord to save $1.4 billion facilitated order from Emirates
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Airbus SE’s revised deal with the countries that helped fund the A380 superjumbo almost two decades ago will help save the European planemaker more than $1.4 billion, according to a regulatory filing.
Future obligations for refundable advances declined by about about 17 percent to an estimated 5.9 billion euros ($7.3 billion), Airbus said in its annual financial statements published Wednesday. While the balance includes other items, the bulk of the discount came from revisions to the A380’s outlook and talks to restructure the agreement.