The daily business briefing: February 14, 2019

Airbus ends production of its massive A380 jet, Germany shows zero economic growth as U.S. tariffs bite, and more

An Airbus A380
(Image credit: Airbus Industries/Newsmakers)

1. Airbus halts A380 production after sales drop

Airbus said Thursday that it is halting production of its superjumbo A380 in 2021 due to a lack of buyers. The European aircraft maker said that the airline Emirates, its key customer for the double-deck, 500-plus-seat plane, is reducing its orders, so "we have no substantial A380 backlog and hence no basis to sustain production." The decision could threaten as many as 3,500 jobs. "It's a painful decision for us," CEO Tom Enders said. "We've invested a lot of effort, a lot of resources, a lot of sweat ... but we need to be realistic." The A380 was praised for its roominess and quieter engines when it started flying in 2008, but airlines were cautious about committing to the costly plane, which is so big airports had to build new runways for it.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.