Business

November 9, 2012

EADS third quarter profit stalls on super jumbo costs

The cost of fixing problems on some A380 super jumbos weighed on third-quarter profits at Airbus parent company EADS NV.

Net profit at the European aircraft giant fell 1 percent to €309 million ($394 million) in the July to September period, down from €312 million a year earlier.

EADS said Thursday it has spent €200 million of an expected €260 million total on the A380 repairs, which involve small fractures found near the rivets used to join a metal cover to the aircraft wings’ ribs.

Sales rose 15 percent in the quarter to €12.3 billion, and the company says it is on track to exceed its target of 10 percent sales growth for the full year.

Airbus’ new A350, intended to challenge Boeing’s 787 “Dreamliner,” was delayed by several months until the second half of 2014, the company said in July. EADS says that remains its target, but warned that the “program remains challenging.”

The reason for the A350 delay is for putting in place an automated drilling process for the plane’s wings. Airbus has already taken €124 million charge as a result, and warned that further delays would lead to greater charges.

Airbus said it is on track to deliver 580 commercial aircraft this year including 30 A380s. AP

 




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


 
 

 

Northrop Grumman signs long-term agreement with Raytheon

Northrop Grumman has entered a long-term agreement with Raytheon to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon’s Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various...
 
 
AAR-Textron

AAR awarded new contract from Bell Helicopter Textron to support T64 engines

AAR announced April 22 that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Val...
 
 

Pratt & Whitney’s engine wins Gold Edison Award™

Pratt & Whitney’s PurePower® Geared Turbofan™ engine has been awarded Gold in the transportation- aviation category of the 2015 Edison Awards. Pratt & Whitney is a division of United Technologies Corp. “Our dedication to innovation and identifying ways to continuously improve is in our blood at Pratt & Whitney,” said Greg Gernhardt, president, Pratt &...
 

 

Boeing names Space Launch System VP

Boeing has named John Shannon to be vice president and program manager for the Space Launch System, which will provide NASA with heavy-lift capability to send people and cargo into deep space. Boeing is designing, developing, testing and manufacturing the core stages and avionics for SLS. Shannon succeeds Virginia “Ginger” Barnes, who is retiring. He...
 
 

Germany’s Jenoptik, Raytheon partner to produce new generators for global Patriot

Raytheon is partnering with the Jenoptik subsidiary Lechmotoren, a part of the Jenoptik Defense & Civil Systems division, to produce advanced power generators for the Patriot Air and Missile Defense system. Under terms of this new contract, Jenoptik will build power plants, power generators, test equipment and spares for one of Patriot’s global partners. Raytheon...
 
 

Boeing tops first quarter profit forecasts, airplane deliveries rise

Boeing delivered more commercial airliners in the first quarter, offsetting sluggish results in the defense side of its business and pushing its first-quarter earnings up 38 percent. The profit topped Wall Street expectations, but revenue was below forecasts, and production costs of the Boeing 787 jet continued to pile up. The shares fell about 4...
 




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>