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.


 
 

 
dassault

Dassault Falcon Jet establishes new pilot operational support team

Arnaud Paulmier, head of Dassault Falcon Jet’s new operational support team. Dassault Falcon Jet recently established a new Pilot Operational Support Team in Teterboro, N.J., to support operators in the Western Hemisphere. Th...
 
 

U.S. Navy awards Raytheon $49.5 million enhanced Laser Maverick production contract

The U.S. Navy has awarded Raytheon a $49.5 million contract for production of new laser-guided Maverick missiles (AGM-65E2/L). The Navy also intends to exercise a contract option to purchase additional units bringing the total contract value to $54.9 million. The Maverick weapon system, a U.S. Air Force-led joint service program, is a forward firing, precision-guided,...
 
 
Northrop Grumman photograph by Alan Radecki

Second Northrop Grumman-built Triton UAS completes first flight

Northrop Grumman photograph by Alan Radecki The second MQ-4C Triton, built by Northrop Grumman for the U.S. Navy, successfully completed its first flight Oct. 15 PALMDALE, Calif. – The U.S. Navy’s second MQ-4C Triton un...
 

 
Raytheon photograph

Poland’s PIT-RADWAR signs letter of intent with Raytheon

Raytheon photograph Mike Shaughnessy, Vice President of Supply Chain, Raytheon Integrated Defense Systems and Jerzy Milosz, Member of Board and Director of R&D, PIT-RADWAR sign a letter of intent to explore further partners...
 
 

Raytheon to resume work on new electronic warfare planning management software program

The U.S. Army has directed Raytheon to resume work on an Electronic Warfare planning management software program that for the first time will give it automated tools to help plan and execute complex electronic warfare missions. The program restart follows a ruling by the U.S. Court of Federal Claims, which denied the protest filed by...
 
 

Northrop Grumman JCREW achieves milestone C; Program to enter production, deployment phase

Northrop Grumman has received Milestone C approval for its Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare Increment 1 Build 1 (I1B1) system from the U.S. Naval Sea Systems Command. The JCREW I1B1 system is a jammer that defeats devices used to trigger improvised explosive devices (IEDs). Northrop Grumman developed mounted, dismounted and fixed-site variants...
 




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>