Airbus Is Clearing the Books for Its New CEO
- Outgoing chief Enders prepares ground for successor Faury
- Shares advance most in a month as unprofitable program to end
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Airbus SE Chief Executive Officer Tom Enders scrapped the company’s totemic but unprofitable A380 jet and booked more than 1.1 billion euros ($1.2 billion) in charges to leave a clean slate for his successor.
In addition to scrapping the flagship superjumbo, Enders, who stands down in April, announced extra costs for restructuring the A400M military transport program and revealed the loss of a major order for its newest wide-body jet.