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Airbus delivers first A350, rules out cancelling A380 project

    AIRBUS
    156,640-3,02%
    TOULOUSE, France (Reuters) - European planemaker Airbus delivered its first new A350 jetliner to Qatar Airways on Monday and ruled out cancelling its A380 superjumbo program.

    Chief Executive Fabrice Bregier said the A380 superjumbo needed a boost in sales but that it was "just crazy" to think AIRBUS (EAD.PA)would cancel it as the jet was about to break even.

    Airbus Group Finance Director Harald Wilhelm triggered speculation over the future of the project earlier this month when he said it would break even through 2018, whether Airbus decided to upgrade or "discontinue" it.

    Airbus said on Monday it was confident of reaching its production goals for the A350, a mid-sized jet designed to compete with the twin-engined Boeing 787 and 777 models.

    (Reporting by Tim Hepher; Editing by James Regan)

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