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Airbus suffered a significant setback on Wednesday when it confirmed that Emirates Airline, the fast-growing Gulf carrier, had cancelled a $16bn order for 70 of the European aerospace group’s planned new A350 passenger jets.
It is Airbus’ largest order cancellation to date and represents 9 per cent of its A350 order book. Shares in Airbus fell 3 per cent to €52.21 in Paris.