Australian investigators suspect a manufacturing defect in a Rolls-Royce engine may have caused the A380 Airbus fire on a Qantas flight earlier this month. The airline says it has filed a statement of claim that could enable it to take further legal action against Rolls-Royce.
The Qantas Airbus A380 engine explosion earlier this month caused at least $70 million worth of damage to the plane, according to a new report from insurance-consulting company Aon. And the bill from the incident, which caused no injuries, could fly much higher.
A building boom -- and the constrained supply of materials due to mandated energy cuts -- sent Chinese cement, metal and building-equipment stocks up Thursday. Meanwhile, Hong Kong and Japanese exporters benefited from improving consumer sentiment and falling unemployment in the U.S.
Half of the Rolls-Royce engines that power the A380 Airbus superjumbo jets may need to be replaced, according to the Qantas CEO. One of the engines caught fire and caused the emergency landing of a Qantas flight earlier this month.
Qantas, the Australian airline with a fatality-free flying record, suffered another flight mishap Monday. The latest problem was with an Argentina-bound Boeing 747 that experienced smoke in its cockpit an hour after takeoff.
After a Rolls-Royce engine on one of Quantas's A380 superjumbo jets exploded last week, Singapore Airlines says it also has pulled three of its A380s from service because of engine trouble. The news comes after Boeing also announced a major engine failure during tests back in August.
Germany's economy may be struggling right now, but one of the country's premier automakers sees brighter days ahead. BMW said Tuesday it expects pretax profits this year to "rise more sharply than previously forecast," driven by better-than-expected vehicle sales.
