The cracked wing problems which Airbus faces on its A 380 super-jumbo are just beginning. The manufacturer’s vice president Tom Williams told Spiegel that “The problem will keep us busy for years.” He estimates the total costs of repairs and special maintenance on the planes will be in the hundreds of millions of euros. Since it appears that the entire fleet of the planes has been affects, that estimate may be low. The comments are also a red flag about Boeing’s (NYSE: BA) problems with its 787 Dreamliner which has had structural issues as well. Some carriers have asked for compensation for the late delivery of the 787. Those same firms may seek more payment for repairs. Boeing’s issues with the 787 could be only at their beginning if they are at all similar to those of the A 380.
Hundreds Of Millions For Airbus A 380 Repairs
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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