Airbus announced the first delay in June 2005 and notified airlines that deliveries would be delayed by six months. This reduced the total number of planned deliveries by the end of 2009 from about 120 to 90–100. On 13 June 2006, Airbus announced a second delay, with the delivery schedule slipping an additional six to seven months. Although the first delivery was still planned before the end of 2006, deliveries in 2007 would drop to only 9 aircraft, and deliveries by the end of 2009 would be cut to 70–80 aircraft. The announcement caused a 26% drop in the share price of Airbus' parent, EADS, and led to the departure of EADS CEO Noël Forgeard, Airbus CEO Gustav Humbert, and A380 programme manager Charles Champion. On 3 October 2006, upon completion of a review of the A380 programme, Airbus CEO Christian Streiff announced a third delay, pushing the first delivery to October 2007, to be followed by 13 deliveries in 2008, 25 in 2009, and the full production rate of 45 aircraft per year in 2010. The delay also increased the earnings shortfall projected by Airbus through 2010 to €4.8 billion.