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Airlines   Lower-than-expected third quarter profits

Airbus halts deliveries of 12 A380s to Emirates Airline

Emirates AirbusAirbus is postponing the delivery of 12 A380 planes to Emirates Airline over the next two years. The company said it would step up cost cuts to minimize the impact of these delays.

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"Airbus re-confirms the target to deliver around 12 A380s per year from 2018 as announced earlier in July 2016. Further fixed cost reduction initiatives will be accelerated so the impact on break-even in 2017 is minimal," the company said.

Emirates Airline had said in November it was having some unspecified technical issues with Rolls-Royce) engines for A380 jets.

Airbus, which earlier this month announced a deal to sell 100 jets to IranAir, reported in October lower-than-expected third quarter profits, although it broadly maintained its full-year financial forecasts.

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