Ups Cancels A380 Order, Who didn't see this coming? Options

[velocityflier16]

From the UPS website:
Press Release Source: UPS

UPS to Cancel A380 Order
Friday March 2, 9:14 am ET


ATLANTA--(BUSINESS WIRE)--UPS (NYSE:UPS - News) today announced its intent to cancel later this year an order for 10 Airbus A380 freighters.
The final cancellation decision will be formally presented to Airbus on the first date specified under an agreement reached last week that gives either party the right to terminate the order.

Last week's agreement specified a revised delivery schedule that delayed UPS's first A380 jumbo freighter from 2010 to 2012. UPS originally expected its first freighter in 2009.

UPS had intended to complete an internal study of whether it could wait until 2012 for the aircraft, but now understands Airbus is diverting employees from the A380 freighter program to work on the passenger version of the plane.

"Based on our previous discussions, we had felt that 2012 was a reasonable estimate of when Airbus could supply this plane," said David Abney, UPS's chief operating officer and president of UPS Airline. "We no longer are confident that Airbus can adhere to that schedule. UPS has built one of the largest airlines in the world in order to ensure reliable service to our customers, and we're confident we have the resources to continue doing so in the future."

And yes, I am aware that it is on Airliners.net so don't flame me

[Aspiring Boeing ...]

Well im surprised they havent lost their 147 orders with a 2.5 yr delay. i do feel sorry for Airbus, this could be the end of them now. they're in the red due to an 86% drop in profits and cost overruns on A380. will there be an A350