Business

May 17, 2012

Airbus parent profits hit by A380 wing problem

Airbus parent company EADS said May 16 its first quarter earnings were hammered by a hefty $203-million charge to fix problematic wing parts on its flagship A380 superjumbo.

EADS says the charge to fix the so-called “wing rib feet” – the metal brackets that connect the wing’s ribs to its skin – on all the A380s in service had left first quarter profit at approximately $168.7 million. That’s still well above the $15 million the company lost in the year earlier period due to an accounting change.

EADS said the cost of fixing the problem will slow its efforts to improve the A380 program’s profitability, and makes its target of delivering 30 of the aricraft this year “more challenging.”

Airbus delivered four of the massive 500-seat A380s in the first quarter, bringing the total in service to 71, with seven different airlines.

The cracks were first discovered on some of Singapore Airlines’ aircraft last year. Airbus has said the problem doesn’t pose a safety risk.

In February, Europe’s air safety authority EASA extended an order to inspect the aircraft’s wings to the entire global fleet of Airbus A380 superjumbo jets.

EADS is a European holding company, with joint French-German management and based in the Netherlands, that also encompasses Eurocopter helicopters, Astrium satellites and Cassidian defense electronics businesses among other divisions.

Airbus expects to deliver around 570 aircraft in 2012, up from 534 last year, while expanding its order book. AP




All of this week's top headlines to your email every Friday.


 
 

 

Headlines March 23, 2015

News: Obama says more troops will stay in Afghanistan next year - President Obama March 24 formally abandoned his pledge to bring U.S. troop levels in Afghanistan down to 5,000 by the end of this year, saying the current force of about 10,000 will remain there into 2016.   Business: U.S. special ops to sole-source 2,000...
 
 

News Briefs March 25, 2015

Pentagon notifying U.S. troops named by alleged IS hackers The Pentagon said March 23 it is notifying 100 U.S. military members that their names and addresses were posted on the Internet by a group calling itself the Islamic State Hacking Division. The group said it was posting the information, including photos of the individuals, to...
 
 
Courtesy photograph

Lockheed Martin acquires high-speed wind tunnel, plans upgrades

Courtesy photograph A RATTLRS cruise-missile inlet undergoes testing at the High Speed Wind Tunnel at Lockheed Martin Missiles and Fire Control in Grand Prairie. Lockheed Martin recently purchased the facility and plans numerou...
 

 
Lockheed Martin photograph by Andrew McMurtrie

Off they go: Three more C-130Js delivered

Lockheed Martin photograph by Andrew McMurtrie March 19, a U.S. Air Force crew took delivery of and ferried an MC-130J Commando II Special Operations tanker aircraft that is assigned to Air Force Special Operations Command’s ...
 
 

Northrop to provide DIRCM for Canadian Chinook fleet

Northrop Grumman has been selected by the Royal Canadian Air Force to provide infrared missile protection on its fleet of CH-147F Chinooks. “Battle-tested in the harshest conditions and in use around the world, Northrop Grumman’s infrared countermeasure systems have been protecting warfighters for more than 50 years,” said Carl Smith, vice president, infrared countermeasures, ...
 
 

UTC Aerospace awarded contract for surface ship sonar domes

UTC Aerospace Systems has received a contract from the Naval Surface Warfare Center – Crane, Indiana, to provide sonar domes for surface combat ships. The five-year indefinite delivery, indefinite quantity contract is valued at up to $39 million and covers deliveries through 2020 to the U.S. Navy and foreign military sales. In addition to the...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>