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Airbus Chief Quits

Airbus CEO Christian Streiff quit Friday, the Associated Press reported.

The two chief executives of Airbus' parent company, the European Aeronautic Defence & Space group, accepted Streiff's resignation, the AP reported. The news comes just days after Airbus admitted that production of its A380 superjumbo jet would be delayed for a third time, slashing almost a billion dollars a year off operating profit for the next four years.

EADS co-CEOs Tom Enders and Louis Gallois have agreed that Streiff should leave the company, a person close to Airbus told AP, several days after he threatened to resign amid a dispute over the transparency of financial and other reporting by Airbus to EADS. Airbus has been under the gun ever since rival Boeing (BA - Get Report) gained widespread airline acceptance for its more economical 787 jetliner.

German weekly WirtschaftsWoche reported earlier that Streiff had offered his resignation in a letter to Gallois.

"We deny categorically that Mr. Streiff is to leave Airbus," spokeswoman Anne de Crozals said, AP reported.

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