Written by Jonny Williamson
Airbus has announced that it has terminated a $2.2bn order for six A380 aircraft from Skymark Airlines.
Though the aircraft manufacturer hasn’t gone in to details regarding the termination, it’s been reported that the low-cost Japanese carrier has struggled to raise sufficient capital to cover payment installments.
At a briefing held in Tokyo, Skymark’s president and CEO, Shinichi Nishikubo, noted that increased competition within the region combined with the knock-on effect of a weaker local currency had taken their toll on business.
Amid suggestions that Skymark wanted to pull out of the 2011 deal, the CEO went on to claim that Airbus had demanded the carrier merge with a larger airline as a condition of the cancellation.
Airbus has denied making such demands on Skymark’s operational structure, noting in a statement that it is “reserving all its rights and remedies.”
It’s been reported that two of the six aircraft have already been assembled and were due for delivery before the end of 2014. Airbus is now seeking an alternative customer for the superjumbos.
In June, Emirates cancelled 70 A350 aircraft which were first ordered in 2007 when the total list price stood at $16bn, however they are currently listed at a collective $22bn.
Source: Aviation Media
