Page last updated at 17:24 GMT, Monday, 5 May 2008 18:24 UK

EADS shares hit by A380 reports

An Airbus A380 in Santiago

Shares in European aerospace firm EADS have fallen on reports that unit Airbus could be forced to further delay deliveries of its A380 superjumbo.

German media said that Airbus might not be able to deliver the 25 superjumbos promised in 2009.

A report in Germany's Die Welt paper also said that Airbus may run into problems selling some of its factory sites as part of a cost-cutting plan.

EADS shares closed down 3.8% at 16.38 euros on Monday.

It was the biggest loser in the French Cac 40 stock index.

Factory sales

The business magazine Wirtschafts-Woche and Die Welt both reported that Airbus might miss its delivery schedule.

Wirtschafts-Woche quoted a company source as saying Airbus would "almost" reach this year's delivery target of 13 planes, but was likely to miss the 2009 target of 25 planes.

Deliveries of the superjumbo have fallen almost two years behind schedule.

Die Welt also said that Airbus plans to sell two French plants to aerospace firm Latecoere might fall through because of difficulty financing the deal.

"The economic environment together with the tensions in the financial markets and the alarming decline of the dollar relative to the euro also exist for Latecoere," the paper quoted Fabrice Bregier, Airbus vice president, as saying.

In March, Airbus ended talks to sell three factories in Germany to a German consortium, blaming the strong euro for complicating the process.

The factory sales are part of a plan to cut costs as the strong euro erodes the firm's competitiveness.

Last month, Airbus announced a rise in prices across its range of aircraft, blaming rising metals prices and the weakness of the US dollar.

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