Rolls-Royce shares down on Qantas engine failure

| November 8, 2010 | 0 Comments
Rolls-Royce shares down on Qantas engine failure

Shares in Rolls-Royce fell again this morning after the cause of the engine failure on last week’s Qantas flight remains unclear.

Qantas today said it had found oil leaks in engines made by Rolls-Royce after the Australian airline had to make an emergency landing last Thursday.

The plane was forced to turn back to Singapore after one of its four Rolls-Royce Trent 900 engines exploded just minutes into the flight.

Furthermore, on Friday, a Qantas Boeing 747 had to return to Singapore after another Rolls-Royce engine failed while in flight.

Shares in Rolls-Royce fell lost almost 5% this morning before recovering to reveal a loss of 1% this afternoon.

Since the emergency landing by Qantas last Thursday, shares in Rolls-Royce have lost around 10% in value.

Rolls-Royce has been working with Qantas since the incident but management remains silent.

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