Rolls Royce has paid Qantas $A95 million after an engine explosion on a flight to Singapore caused Qantas to ground its entire fleet of Airbus A380 jumbo jets.
The explosion, which happened last November, caused considerable disruption for Qantas and revealed safety concerns about the type of engine used.
The engine was a Rolls Royce Trent 900 and the incident prompted other airlines using the same type of engine to ground their planes.
Qantas revealed the payout from Rolls Royce in a profit guidance update issued to the Australian Stock Exchange (ASX) today.
But the explosion and subsequent grounding of its A380s was just one of a number of events that hurt Qantas’s bottom line recently.
Weather interruptions including the Queensland floods and the current volcanic ash clouds delays cost the airline $A206 million.
Qantas forecast a full-year profit of $A500 million to $A550 million.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Listen to the week’s top business news on NBR Radio’s week in review
- Prime Minister John Key would be better off doing the things he tells people he will do, says Matthew Hooton
- Paula Bennett is “thrilled” by the ban on three Wicked Camper vans, says Rodney Hide
- Michael Wigley says Uber may have inadvertently opened itself to action under competition law
- Tim Hunter on the Z Energy-Chevron deal