Sunday, Australian aviation authorities announced that they would launch an investigation into Qantas Airways (QUBSF.PK) safety and maintenance operations amid growing concerns about the airline's safety standards.
The decision comes after a Qantas 767 flight made an emergency landing at Sydney Airport on Saturday after a hydraulic fluid leak was discovered. This was the third Qantas plane that made an emergency landing in just over a week because of a mid-air fault.
On July 25, a Boeing 747-400 on the way to Melbourne made an emergency landing in Manila after a mid-air explosion created a large hole in its fuselage, while on the same week a domestic flight was forced to return to Adelaide after a landing gear door failed to close.
The Civil Aviation Safety Authority, or CASA, has formed a special team to study issues such as maintenance, safety systems and the way Qantas managed three incidents in last two weeks. The safety watchdog's investigation will take place over the coming two weeks.
CASA spokesman Peter Gibson reportedly said, "I wouldn't say we're concerned about Qantas' safety at all. In fact, we've found no evidence of safety slipping within the airline or safety standards being allowed to drop at all."
Alan Joyce, who will take the role of Qantas Airways' new chief executive officer, said recently that the Australian flag-carrier is planning to cut costs by changing operations without compromising service, amid rising jet fuel prices. Alan Joyce would become chief executive officer upon the retirement of the Geoff Dixon, following Qantas' Annual General Meeting on November 28.
QUBSF.PK closed Friday's regular trading session at $3.21 on a volume of 1K shares.
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