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 December 19, 2014

News: SpaceX’s attempt to land rocket on floating barge postponed - It’s set to be one of the most groundbreaking moments in humanity’s six decades of space exploration. Obama signs $1.1 trillion spending bill into law - President Obama signed the $1.1 trillion federal spending measure into law Dec. 16, officially ending any threat of a government...
 
 

News Briefs December 19, 2014

Trial set for ex-Navy engineer in military secrets case A former Navy civilian engineer is scheduled to stand trial next summer on charges of trying to steal aircraft carrier schematics. Media outlets report that 35-year-old Mostafa Awwad of Yorktown, Va., pleaded not guilty Dec. 17 to two counts of attempted exportation of defense articles and...
 
 
Army photograph by C. Todd Lopez

Army to launch cruise missile-detecting aerostat at Aberdeen Proving Ground

Army photograph by C. Todd Lopez The Army plans to launch an aerostat, part of the “Joint Land Attack Cruise Missile Defense Elevated Netted Sensor,” in late December 2014. The JLENS aerostat will be tethered to the...
 

 
Air Force photograph by SrA. Jordan Castelan

AF delivers Iraqi F-16s for training in US

Air Force photograph by SrA. Jordan Castelan Iraqi air force captain Hama conducts preflight inspections while inside a new to service Iraqi F-16 Fighting Falcon Dec. 17, 2014, located at the nearby Tucson International Airport...
 
 
Air Force photograph by SSgt. Derek VanHorn

Short-notice: A new way to exercise

Air Force photograph by SSgt. Derek VanHorn Airmen from Kadena Air Base, Japan, prepare for an aeromedical evacuation exercise on a KC-135 Stratotanker Dec. 5, 2014, at Misawa Air Base, Japan. The operation was executed in supp...
 
 
Lockheed Martin photograph by Andy Wolfe

Japan, Australia to provide F-35 maintenance sites in Pacific region

Lockheed Martin photograph by Andy Wolfe An F-35C Lightning II joint strike fighter carrier variant prepares to launch from the aircraft carrier USS Nimitz in the Pacific Ocean, Nov. 6, 2014. Japan and Australia will be sharing...
 




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>