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Airbus loses order for 70 of its troubled A350

FILE - In this June 14, 2013 file photo, a ground crew member guides the Airbus A350 after its maiden flight at Blagnac airport near Toulouse, southwestern France. Emirates Airlines on Wednesday, June 11, 2014 announced it has canceled its order for 70 Airbus A350 aircraft, a blow to the manufacturer that has seen its share price sink 4 percent in morning trading. (AP Photo/Bob Edme, File) -
FILE - In this June 14, 2013 file photo, a ground crew member guides the Airbus A350 after its maiden flight at Blagnac airport near Toulouse, southwestern France. Emirates Airlines on Wednesday, June 11, 2014 announced it has canceled its order for 70 Airbus A350 aircraft, a blow to the manufacturer that has seen its share price sink 4 percent in morning trading. (AP Photo/Bob Edme, File)
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By The Associated Press

PARIS - Emirates Airlines has cancelled its order for 70 Airbus A350 aircraft, a blow to the manufacturer that has seen its share price sink 4 per cent in morning trading.

The A350 is intended as Airbus' best hope for catching up in the long-haul market that is dominated by Boeing's 777 and 787 but has been plagued by years of delays and a multibillion dollar revamp.

In Wednesday's announcement, the companies said Emirates cancelled the order after a "fleet requirement" review. The carrier is owned by the government of Dubai and is by far the largest in the Mideast.

Emirates has been rapidly adding the Boeing 777 to its fleet, and last year placed an order for 150 of the planned 777x model in a deal valued at $55.6 billion.

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