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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

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Airbus : Inspections ordered on some Airbus A380s after wing cracks found

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07/09/2019 | 09:52am EST
FILE PHOTO: A visitor takes a picture of an Airbus A380 as it lands after an air display at the 53rd International Paris Air Show at Le Bourget Airport near Paris

PARIS (Reuters) - European regulators have ordered inspections on some older Airbus A380 superjumbo airplanes after some cracks were detected in wings on the world's largest passenger aircraft.

The European Aviation Safety Agency (EASA) directive, which formalises an instruction from the manufacturer itself, covers part of the outer wing on the 25 oldest aircraft, which first went into service in 2007 with Singapore Airlines.

Airbus said the safety of the aircraft was not affected.

"We confirm that small cracks have been found on the outer rear wing spars of early production A380 aircraft. We have identified the issue and designed an inspection and repair scheme." an Airbus spokesman said.

The repairs, which must be carried out within 15 years of the initial wing box assembly, can be carried out during scheduled heavy maintenance visits, he added.

EASA in its directive said the condition, if not detected and corrected, could reduce the structural integrity of the wing.

Emirates, the world's largest A380 operator, has started checks on nine of its superjumbos and "so far, there has been nothing untoward in the findings," a spokeswoman said.

The Dubai-based carrier has 111 A380s in its fleet.

Singapore Airlines is to inspect four of its A380s, while Abu Dhabi's Etihad Airways said its A380s were newer models and not affected.

In 2012, Airbus was forced to carry out A380 inspections and devise a costly repair programme after cracks were found on part of the wings, the world's largest for a passenger plane.

(Reporting by Tim Hepher and Cyril Altmeyer; additional reporting by Jamie Freed in Singapore & Alexander Cornwell in Dubai Editing by Mark Potter and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -0.71% 130.84 Real-time Quote.1.00%
SINGAPORE AIRLINES LIMITED 0.23% 8.57 End-of-day quote.0.59%
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Financials (EUR)
Sales 2020 73 087 M
EBIT 2020 7 722 M
Net income 2020 5 452 M
Finance 2020 11 241 M
Yield 2020 1,72%
P/E ratio 2020 19,3x
P/E ratio 2021 16,9x
EV / Sales2020 1,26x
EV / Sales2021 1,18x
Capitalization 103 B
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Number of Analysts 24
Average target price 149,84  €
Last Close Price 131,78  €
Spread / Highest target 29,8%
Spread / Average Target 13,7%
Spread / Lowest Target -8,94%
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NameTitle
Guillaume Faury Chief Executive Officer
Denis Ranque Non-Executive Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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