Thursday morning news centered on Qantas Airways and an engine failure which grounded the Airbus A380 Fleet, fortunately no one was injured but it will certainly effect airlines and stock prices in this sector which have had a decent run as we enter the Thanksgiving Holiday travel season.
Qantas Airways suspended flights of its Airbus A380 fleet on Thursday after engine failure triggered an emergency landing in Singapore, one of the most serious incidents for the world's largest passenger plane in three years of commercial flight.
One of the Airbus A380's four engines failed minutes after it had left Singapore for Sydney, terrifying passengers who said they heard a loud bang and saw parts of the engine fall off. Australian officials said no one on board the flight, which began in London and was carrying 459 people, was injured.
The stock price has traded near it's yearly highs and has a tight range for most of 2010. This active trader on the Austrailian Stock Exchange will certainly put downward pressure on share prices as revenues will be effected by today's news.
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