After several years of doubt over the future of the Airbus A380, the company announced on Thursday morning that it would scrap the superjumbo model, which entered service just 12 years ago.
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00:00After several years of doubt over the Airbus A380, the company announced on Thursday morning
00:06that it would no longer be making the Super Jumbo just 12 years after it entered service.
00:12The company said that the decision by Emirates to cut back on its orders had sped up the
00:17decision to scrap the model. Emirates said in response that it was disappointed in the
00:22decision but understood the reality of the situation. Experts say that the model failed
00:28because Airbus bet big on airplanes being large in size in the future, whilst rival
00:34Boeing was already developing its smaller, nimbler Dreamliner 787. The plane failed to
00:39turn a profit despite being introduced to widespread excitement in 2007. The company
00:44said that the last plane would be delivered in 2021. The 2018 net profit for developer
00:49Dimac came in at 1.2 billion dirhams for 2018, a sharp decline on the 2.8 billion dirhams
00:56it made the year before. Revenues during the period were down to 6.1 billion dirhams,
01:01a low from the 7.5 billion dirhams of 2017. Elsewhere, fellow developer EMAR saw its fortunes
01:08on the reverse with net profits climbing 43% as buyers snapped up 6,500 new homes. EMAR
01:16recorded a net profit of 2018 of 3.9 billion dirhams. That's all for today. I'm Ed Clouse.
01:23Thanks for watching. See you after the weekend.
01:26Transcribed by https://otter.ai