Emirates receives $110 million as compensation for A380 delay
05 May 2008
Mumbai: Emirates is reported to have received around AED404 million, or $109.9 million from aircraft manufacturer Airbus, as compensation for the delivery delays it has seen on its orders for the A380.
According to a report from Reuters, the airline listed the amount as related to "liquidating damages" in its annual report revealed last week. President Tim Clark reportedly told Reuters that a large part of the amount was compensation for the delay of the A380s. Clark said Emirates is expecting to have a fleet of five A380s this fiscal year, and a dozen in the year ending 31 March, 2010.
Emirates is Airbus' largest customer for the A380, and has ordered a total of 58 of the aircraft.