Europe's largest aerospace group posted quarterly adjusted operating profit of 3.096 billion euros ($3.5 billion), up 56 percent from the same period in the previous year, after accelerating jetliner deliveries in the last three months to make up for earlier delays.
"As much as we regret the airline's position, selecting the A330neo and A350 for its future growth is a great endorsement of our very competitive widebody aircraft family", said Guillaume Faury, President of Airbus Commercial Aircraft and future Airbus CEO.
The decision, announced on Thursday, could affect up to 3,500 jobs around the world, with hundreds in the UK.
On Wednesday, Reuters reported that Airbus was poised to axe the superjumbo and would likely give an update on Thursday. Thus Airbus got in touch with their clients and asked if they would be willing to change the A380 order to another aircraft, such as the A350.
When Airbus's A380 first took off it was hailed as a technological marvel that would meet airlines' needs for a new large aircraft to connect the world's crowded airport hubs - London, New York, Dubai, Tokyo.
Emirates now operates an all-widebody fleet of more than 160 Boeing 777 (including 139 777-300ER) and 109 Airbus A380.
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Whilst the A380 program has struggled to attract orders over the years (with only 313 firm orders to 13 airlines) it has always struggled onwards thanks to an order book that was boosted by Emirates.
Instead, airlines have been cautious about committing to the costly plane, so huge that airports had to build new runways and modify terminals to accommodate it.
"While we are disappointed to have to give up our order, and sad that the programme could not be sustained, we accept that this is the reality of the situation", he added. But ironically it was also Emirates that contributed to the A380's decline and fall.
"Passengers all over the world love to fly on this great aircraft".
Airbus incurred €463 million in charges for scrapping the production of the A380. We have shown how people can truly fly better on the A380, and Emirates has set the standards for that by introducing customer experiences that are unique to the A380 like our shower spas and onboard lounge. In February 2019, Airbus admitted the ongoing talks with the Gulf carrier, while previous reports indicated it was looking to convert some or all of its recent order for 20 A380s into smaller and newer A350s or A330s.
The A380 will remain a pillar of the Emirates fleet well into the 2030s, stated the airline. At a time when flying had lost its jet-age mystique and budget carriers sought to cram as many people onto a plane as possible, the A380 offered a throwback to an era of stylish travel, with plush cabin layouts and free-flowing champagne. Emirates will mostly use the Airbus A330neos on regional and lower-demand routes, while the A350 will be deployed on the airline's long-haul operations.
"The A380 is not only an outstanding engineering and industrial achievement".