777DadandJr
Topic Author
Posts: 1484
Joined: Wed Feb 09, 2005 7:37 am

Airbus Agrees To Compensation For Delay

Fri Nov 11, 2005 10:45 pm

Not sure if this is new or old news, but I just came across it this morning. I did a search but didn't find anything.
My apologies if this has been covered already.

BBC Reports:
Airbus has agreed to Compensate airlines for A380 delays.

http://news.bbc.co.uk/1/hi/business/4427270.stm

Russ
My glass is neither 1/2 empty nor 1/2 full, rather, the glass itself is twice as big as it should be.
 
leelaw
Posts: 4520
Joined: Sat May 29, 2004 4:13 pm

RE: Airbus Agrees To Compensation For Delay

Fri Nov 11, 2005 10:58 pm

"It is standard practice... payments will be made for each day of delay in delivery," said John Leahy, chief operating officer for customers.

"It is not an enormous amount of money considering how much the aircraft is worth."

IIRC, Mr. Humbert has also said that compensation will be relatively small, can be "unwound" internally, and doesn't require setting up accounting reserves for potential litigation.
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