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Airbus has decided to stop the production of its A340 long-haul four-engine aircraft, which failed to compete with Boeing's 777, Saudi Gazette has reported. "We have accepted reality. We have not sold any A340s for nearly two years," Airbus finance director Hans Peter Ring said. The A340 first flew in April 1992 and in 1993 it scored a record for the longest non-stop flight, between Paris and Auckland, New Zealand. The Boeing 777 launched two years later and had the same capacity but with only two engines it was more fuel-efficient.