Airbus will no longer build its A340 aircraft.
EADS, Airbus’ parent company, announced the termination of the program in its third quarter earnings report on Thursday. Putting an end to the A340 program translates to a $261 million financial gain for the company. EADS also announced a six-month slide to the A350XWB schedule, which forced the company to take a $273 million charge in the third quarter.
Airbus hasn’t won an order for the A340 in two years. The A340, a widebody jet with four engines, competes against Boeing’s twin-engine 777, which has won 132 orders so far this year.
For more on Airbus’ cancellation of the A340 program, read this Bloomberg report.