Airbus has posted the first loss in its corporate history, blaming delays to the A380 superjumbo.

Joint chief executive Louis Gallois told the BBC it was the worst year in Airbus's life.

The company has already announced 10,000 job losses to cope with the two year delay to its primary project.

Although Airbus sold a record number of planes (434 versus 387 in 2005) and increased revenues by 14 per cent to €25.19bn, it still made a hefty loss. The division reported a loss (earnings before interest and tax) of €572m.

It said the financial impact of the delayed plane is €2.5bn. This is made up of: €1.2bn in extra costs and loss making contracts, €0.8bn in payments due now which Airbus expected to pay later, and a further €0.5bn in previously unannounced charges. Hedging currency against the dollar also contributed to the loss.

Parent company European Aeronautic Defence and Space Company brought in revenues of €39.4bn, up 15 per cent, but profits were hit by Airbus problems and are were down to €399m compared to €2,852 in 2005.

More from EADS here. ®

Related stories

• Surrey Satellite to be bought by EADS Astrium (8 April 2008)
• Airbus scores whopping £16.7bn Emirates deal (12 November 2007)
• A380 touches down in Oz (25 October 2007)
• Airbus delivers first A380 (15 October 2007)
• Boeing delays 787 Dreamliner (11 October 2007)
• Aussie stumps $100k for Airbus A380 tickets (3 September 2007)
• First Airbus seats to be auctioned for charity (25 July 2007)
• Hi hon, I'm on d plane (19 April 2007)
• A380 heads for US of A (19 March 2007)
• Airbus details restructuring plan (1 March 2007)
• Airbus to lay off 10,000 (28 February 2007)
• UPS threatens to cancel A380 order (23 February 2007)
• Airbus revises A380 break-even point (20 October 2006)
• 'Painful' job losses likely at Airbus (10 October 2006)
• Third A380 delay tests airlines' patience (4 October 2006)