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.


 
 

 
Virgin Galactic photograph

NTSB concludes SpaceShipTwo flight test accident investigation

Virgin Galactic photograph WhiteKnightTwo and the first SpaceShipTwo during a captive carry test flight over the Mojave Desert. MOJAVE, Calif.–The National Transportation Safety Board has concluded the investigation of th...
 
 

Headlines July 27, 2015

News: U.S.-Turkey deal aims to create de facto ‘safe zone’ in northwest Syria¬†– Turkey and the United States have agreed on the outlines of a de facto “safe zone” along the Turkey-Syria border under the terms of a deal that is expected to significantly increase the scope and pace of the U.S.-led air war against...
 
 

News Briefs July 27, 2015

Putin OKs maritime code calling for strong Atlantic presence Russian President Vladimir Putin has approved a new version of the country’s maritime doctrine that calls for maintaining a strong Russian presence in the Atlantic Ocean amid concerns about NATO expansion. The doctrine, which covers naval, merchant marine and scientific maritime issues, also adds the Antarctic...
 

 
Army photograph by SFC Walter E. van Ochten

U.S., Ukraine, Romania, Bulgaria train together at Rapid Trident 2015

Army photograph by SFC Walter E. van Ochten U.S. soldiers, of the 3rd Platoon, 615th Military Police Company, 709th Military Police Battalion, react as they conduct reacting to contact training as part of their situational trai...
 
 
nasa-astronaut

Astronaut Stephen Frick retires from NASA

Astronaut Stephen Frick has retired from NASA to accept a position in the private sector. Frick, who flew as both a shuttle pilot and commander, left the Agency July 13. Steve has been a great asset to the astronaut office and ...
 
 
Army photograph by Sgt. Juana M. Nesbitt

Estonian, US forces receive new jump wings

Army photograph by Sgt. Juana M. Nesbitt Pvt. Kalmer Simohov, of Parnu, a volunteer with the Estonian Defense League, receives his U.S. Army Airborne wings following the joint airborne operations exercise at a drop zone in Nurm...
 




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=""> <s> <strike> <strong>