00:00After several years of doubt over the Airbus A380, the company announced on Thursday morning
00:06that it would no longer be making the Super Jumbo just 12 years after it entered service.
00:12The company said that the decision by Emirates to cut back on its orders had sped up the
00:17decision to scrap the model. Emirates said in response that it was disappointed in the
00:22decision but understood the reality of the situation. Experts say that the model failed
00:28because Airbus bet big on airplanes being large in size in the future, whilst rival
00:34Boeing was already developing its smaller, nimbler Dreamliner 787. The plane failed to
00:39turn a profit despite being introduced to widespread excitement in 2007. The company
00:44said that the last plane would be delivered in 2021. The 2018 net profit for developer
00:49Dimac came in at 1.2 billion dirhams for 2018, a sharp decline on the 2.8 billion dirhams
00:56it made the year before. Revenues during the period were down to 6.1 billion dirhams,
01:01a low from the 7.5 billion dirhams of 2017. Elsewhere, fellow developer EMAR saw its fortunes
01:08on the reverse with net profits climbing 43% as buyers snapped up 6,500 new homes. EMAR
01:16recorded a net profit of 2018 of 3.9 billion dirhams. That's all for today. I'm Ed Clouse.
01:23Thanks for watching. See you after the weekend.
01:26Transcribed by https://otter.ai
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