BREAKING NEWS

Rolls-Royce explains failure of A380 engine part

By ASSOCIATED PRESS

NOVEMBER 12, 2010 10:29

LONDON — Rolls-Royce Group PLC said Friday that the failure of a Qantas A380 engine last week was specific to the Trent 900 series of engines and confined to a specific component of the turbine engine that started an oil fire.

In a trading update Friday, London-based Rolls-Royce said the incident will cause full year profit growth "to be slightly lower than previously guided," but it also said that the company's other operations will help to offset any losses.

The update from the world's second-biggest engine maker behind General Electric — and one of the last global industrial manufacturing companies in Britain — has been keenly awaited by investors and analysts. The company's shares have slumped 10 percent since the incident as it has remained largely silent.

Rolls-Royce said the series of checks made on the Trent 900s after last week's incident had led it to draw two key conclusions.

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