Investors - Time to cut your losses

European aircraft maker Airbus has raised the number of A380 superjumbos it needs to sell to make a profit on the project. The firm's parent company EADS now says it needs to sell 420 A380s to break even, up from a previous estimate of 270 aircraft.

To date, Airbus has sold 159 A380s and the first plane is now due in October 2007 - two years behind schedule. The presentation came as speculation built about who would be named as the new managing director at Airbus.

Louis Gallois was appointed chief executive last week after the resignation of Christian Streiff.

The problems Airbus is having with its A380 have prompted the company to examine how it runs its businesses. Earlier this month, the company warned of "painful" job losses as a result of the problems with the A380.

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