💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Airbus A400M takes to air in first test after Spain crash

Published 05/12/2015, 10:04 AM
Updated 05/12/2015, 10:13 AM
© Reuters. An Airbus A400M military transport plane takes off at the Blagnac airport in Toulouse
AIR
-

By Johanna Decorse and Sabine Siebold

TOULOUSE/BERLIN (Reuters) - Airbus (PA:AIR) carried out on Tuesday its first test flight of an A400M military transporter plane since Saturday's fatal crash in Spain that led some European countries to ground the carriers.

Madrid earlier on Tuesday withdrew flight permission for planes currently in production in Spain until more is known about the causes of the crash, which killed four crew members.

Britain, Germany and Turkey grounded their A400M fleets after the crash, the first involving Europe's largest defense project, which has already been marred by delays and cost overruns.

Airbus has its own fleet of three older A400M planes, which it also uses for test flights, and these planes are not affected by the Spanish ban.

One of the transporters took off from Toulouse around 1345 GMT (9.45 a.m. EDT) on Tuesday, bound for Seville, as Airbus sought to restore confidence in the aircraft.

The planes, which cost just over 100 million euros ($112.34 million) each, are assembled in Seville.

The A400M Atlas was developed for Spain and six other European NATO nations - Belgium, Britain, France, Germany, Luxembourg and Turkey - at a cost of 20 billion euros ($22 billion), making it Europe's biggest single arms contract.

© Reuters. An Airbus A400M military transport plane takes off at the Blagnac airport in Toulouse

Problems in delivering the planes on time, and with all the required military features on board, resurfaced last year, triggering a management shake-up and more financial charges.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.