Airbus cancels Skymark's $1.7B A380 order


Airbus (OTCPK:EADSY) has cancelled a $1.7B order from Japan's Skymark Airlines (OTC:SKALF) after the latter requested the order be terminated as it struggles with tougher competition and a weaker yen.

The 2011 deal with Skymark was a breakthrough for Airbus, which has made great efforts to win orders for big planes in the Japanese market.

"Airbus terminated the contract when Skymark made it clear that it was not going to perform its contractual obligations," an Airbus spokesperson said in an email.

OTCPK:EADSY -0.2 AH

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Comments (2)
  • Shaduc
    , contributor
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    Wonder what the penalty for cancellation is?
    29 Jul 2014, 09:31 AM Reply Like
  • sddd
    , contributor
    Comments (264) | Send Message
     
    I'm more amused by the phrasing used- "Airbus cancels Skymark's... order".

     

    I guess they also canceled Emirates' a350 order, once Emirates made it clear it wasn't going to buy the planes...?
    5 Aug 2014, 07:34 PM Reply Like
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