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Airbus cancels S$2.7 bn jet order from Japan's Skymark over payment concerns

Published on Jul 29, 2014 7:16 PM
 
A ground staff (right) of Japan's Skymark Airlines guides a customer at the self check-in counter of Skymark Airlines at Haneda airport in Tokyo on July 29, 2014. Airbus on Tuesday said it has cancelled a US$2.2 billion (S$ 2.7 billion) deal with Skymark Airlines for the purchase of six A-380 superjumbos, reportedly over concerns about payment. -- PHOTO: AFP

TOKYO (AFP) - Airbus on Tuesday said it has cancelled a US$2.2 billion (S$ 2.7 billion) deal with Skymark Airlines for the purchase of six A-380 superjumbos, reportedly over concerns about payment.

The Airbus announcement came hours after Skymark said it was locked in "difficult" talks with the European aircraft manufacturer about its 2011 order, which had marked a big victory for the firm in a market long monopolised by rival Boeing.

Skymark's Tokyo-listed shares plunged about 13 percent to close at 250 yen (S$3.04) after the airline said it was negotiating with Airbus to "revise" the multi-plane order inked three years ago.

But in a statement issued after Japanese markets had closed Airbus said the deal was off.

 
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