Austria's FACC cuts profit forecast due to A380 production stop (updated)
14/02/2019 15:35
(Adds detail, CEO, background)
VIENNA, Feb 14 (Reuters) - Austrian plane parts maker FACC
FACC.VI cut its forecast for 2018/19 operating profit to
almost 40 million euros ($45.18 million) from a previous 52-55
million euros after Airbus AIR.PA said it would scrap
production of the A380 superjumbo.
The group added it would write off 12 million euros due to
the production halt.
Europe's top planemaker decided that after years of
lacklustre sales the last of the world's largest passenger plane
would be delivered in 2021. The move came after Emirates
reduced its orders, opting to order a total of 70 of the smaller
A350 and A330neo instead. urn:newsml:reuters.com:*:nL5N2090KM
Chinese-owned FACC supplies the A380 with engine compartment
components, components for overhead stowage and cargo door
panels among other items.
Chief Executive Robert Machtlinger said while it was
regrettable that the A380 production will be suspended, he was
delighted about the 70 new orders as FACC will also equip these
planes with components.
($1 = 0.8853 euros)
(Reporting by Kirsti Knolle
Editing by Francois Murphy and Alexandra Hudson)
((kirsti.knolle@thomsonreuters.com; +43 1 53112 255; Reuters
Messaging: kirsti.knolle.thomsonreuters.com@reuters.net
www.reuters.com))