FedEx Boss Says Company May Reconsider Plane Later

Airbus CEO Louis Gallois says he sees a light at the end of the tunnel with his company's beleaguered A380 program.

Speaking at a visit to the Airbus wing-producing factory in Broughton, Wales, Gallois (above) told reporters he expects the wiring problems that have delayed production of the company's A380 superjumbo airliner to be resolved in a matter of weeks... or months, at the very latest.

Gallois' remarks are the first indication of when Airbus expects those issues to be resolved, since a third production delay was announced in October.

So far, Airbus has managed to hold onto almost all of its orders for the massive plane, with cargo operator FedEx the only customer to cancel its orders outright.

That news may not be as bad as first thought, however. Forbes reports FedEx CEO Frederick Smith said in a recent interview the company may consider buying Airbus A380 freighters once again, as the market for its delivery services continues to grow. Smith declined to provide details.

Still, Airbus has taken a significant financial hit from the problems... with the company needing about 420 orders for the plane to just break even on the project. At the moment, Airbus has 159 orders for the A380.

The Associated Press reports the two-year delay will cut over $6 billion off profit forecasts at Airbus over the next four years.

FMI: www.airbus.com