Paris vows to rescue Airbus, somehow

PARIS, June 21 (UPI) -- Paris vowed Wednesday to do whatever it takes to rescue ailing aeronautics giant Airbus SA, in which it holds a 15-percent stake.

The latest delay in deliveries of its flagship A380 superjumbo jet has produced a jumbo jet full of troubles: Billions of dollars in canceled orders; demands for penalty payments worth hundreds of millions; an investigation in insider trading just before the latest delivery delay was announced; a 26-percent drop in share price; political recriminations; and prospects of a management shakeup.

The French government said it would "take all necessary steps" to resolve the Airbus production delays, though it did not indicate what such steps might be, the BBC reported.