London (CNN Business) 1. The A380 is dead: Airbus has announced the end of its A380 program after the superjumbo jet failed to deliver on outsized expectations.

Airbus EADSF Shares inwere up 5% in Paris after the company announced the A380 news and said its profits grew 30% over the previous year in 2018.

The European plane maker announced it will stop delivering A380s in 2021 after its key customer, Dubai-based airline Emirates, slashed its orders for the huge jetliner.

"It's a painful decision," Airbus CEO Tom Enders said during a conference call with analysts. "We've invested a lot of effort, a lot of resources and a lot of sweat into this aircraft."

"But obviously we need to be realistic," he added. "With the decision of Emirates to reduce orders, our order backlog is not sufficient to sustain production."