Iran Drops A380s in Airbus Deal
- Reversal is latest blow for manufacturer’s superjumbo plane
- Iran sees deal at maximum $10 billion instead of $27 billion
An Airbus SAS A380 aircraft lands after performing a flying display on the opening day of the 51st International Paris Air Show in Paris, France, on Monday, June 15, 2015. The 51st International Paris Air Show is the world's largest aviation and space industry exhibition and takes place at Le Bourget airport June 15 - 21.
Photographer: Jasper Juinen/BloombergAirbus Group SE suffered a blow to its already troubled A380 program when Iran, which had previously suggested it would buy the double-decker planes, said it had dropped the model as part of a wider fleet upgrade.
Iran reduced its order with Airbus to 100 planes in a contract that will no longer include A380s, Farhad Parvaresh, Iran Air’s chief executive officer, said in a press conference in Tehran. This will shrink the original $27 billion agreement -- which wasn’t a firm contract -- for 118 jets, including 12 A380s. A team from Airbus is currently in Tehran for talks.