Rolls-Royce Fixing A380 Engine, Confirms Cause Of Oil Fire (RYCEF)

This morning, Rolls-Royce (RYCEF) confirmed the cause of the oil fire that forced a Qantas-operated Airbus A380 to make an emergency landing in Singapore last week. According to the New York Times, the manufacturer released a statement that said, “First, as previously announced, the issue is specific to the Trent 900. Second, the failure was confined to a specific component in the turbine area of the engine. This caused an oil fire, which led to the release of the intermediate pressure turbine disc.” On the upside, Business Spectator reports that fixing the engine will not greatly impact profit growth. On this news, shares are currently up 2.83%. Last week, Qantas Airways (QUBSF) announced that it had suspended all flights of its Airbus A380 fleet, which the company said would remain grounded until it was confident that the safety requirements had been met.