Airbus says output cut won't drive A380 massively into red

[July 13, 2016]  FARNBOROUGH, England (Reuters) - Airbus does not expect its A380 superjumbo program to fall massively into the red as a result of its decision to cut production, and is optimistic about long-term prospects for the jet, the European planemaker's group CEO said on Wednesday.

An Airbus A380, the world's largest jetliner, generates vortex during a flying display at the 51st Paris Air Show at Le Bourget airport near Paris, June 18, 2015. REUTERS/Pascal Rossignol/File Photo

"I do not expect to be massively in the red," Tom Enders told a news conference a day after Airbus said it would cut A380 deliveries to 12 a year from 2018, down from 27 in 2015 and well below its current breakeven point.

"We work hard to be profitable or breakeven at lower rates. How far we can bring it down, we will have to see," Enders said.

"We all are pretty upbeat and optimistic about the longer term prospects of the A380. I hope that this is only a year or two and then we can raise production rates again."

(Reporting by Cyril Altmeyer; Editing by Mark Potter)

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