High oil prices hit four-engined Airbus

The four-engined Airbus A340 long-haul airliner has been hit by the high price of jet fuel and is losing orders heavily to the rival Boeing 777, aviation industry sources say.

The latest problem for the plane came late on Sunday when Emirates of Dubai told Airbus it was postponing indefinitely the date on which it was due to take delivery of the 20 A340-600 jets it has on order. Deliveries were to have started next year. An Airbus spokesman acknowledged that there had been some “backsliding” of orders.

Emirates reportedly wants to wait until Airbus has developed an improved version of the aircraft that is more fuel-efficient, a concern shared by most airlines as they grapple with an upward spiral of oil prices.

Jang Group