Abandon Ship II – Time to scuttle the old girl

Joining the growing list of airlines, to cancel their Airbus orders.

Korean Air Lines Co., the biggest international cargo carrier, ordered 25 Boeing Co. planes valued at $5.5 billion, giving the U.S. planemaker another victory over Airbus SAS.

Korean Air chose five of the new 747-8s and five 777-200s as freighters, picking the Boeing planes over the cargo version of Airbus's A380 superjumbo jet. It also ordered 15 passenger planes, Seoul-based Korean Air said in an e-mail.

Apparently the German government wants to ensure it has a stake in EADS, not sure how clever that move is. A private company begs to differ, maybe it's because they are not fiddling with someone else's money.

The German government and DaimlerChrysler have reached agreement on "broad outlines" of a deal to allow the carmaker to sell part of its stake in European aerospace giant EADS, according to a government spokesman.

In other words, sell sell sell!! Get rid of it, time to cut your losses and walk away.

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