Emirates Airlines cancelled a $16 billion order for 70 Airbus A350 planes Wednesday, casuing shares to plummet.
According to Reuters, the company is no longer interested in adding the jets to their fleet.
An analyst at Espirito Santo said the news won't impact the financial figures of the plane's engine maker, Rolls-Royce.
"The Emirates cancellation on its own doesn't really do anything to the financial numbers for Rolls-Royce but the shares are down as people are wondering if Emirates will be the last to cancel," Edward Stacey said. Airbus's A350 fleet was a prominent part of Rolls-Royce civil aerospace line.
Rolls-Royce told The Telegraph that the engineering company is not worried about losing Emirates as a business partner.
"We retain a close working relationship with Emirates and continue to support their 38 Rolls-Royce powered wide body aircraft currently in service," the company said. "While disappointed with this decision, we are confident that the delivery slots which start towards the end of this decade vacated by Emirates will be taken up by other airlines. Airbus has already sold 700 aircrafts, and 1,400 Trent XWB engines. The company's sales chief said consumers can expect more planes.
"There is certainly going to be no hole in production," John Leahy told reporters in Toulouse, Haute-Garonne, France.
Leahy also said the cancellation is not the end of the world for the company economically, but could be for fliers.
"It is not good news commmercially but not bad news financially," John Leahy said.
If they had continued with the deal, Emirates would have started shipping the plane in 2019, according to The Telegraph.
Emirates first purchased 50 jets in 2007. This included A350-900s, and 20 A350-1000s in 2007.
Cantor Fitzgerald Europe, however, said the airline never seemed to favor the jetliner's features.
"Emirates was one of the original customers interested in the programme but always seemed rather critical of the aircraft specifications," the firm said in a note obtained by Reuters.
