On Friday Rolls Royce Group PLC stated that the last week's failure of one Quantas' A380 engine was specific to its Trent 900 series and the problem was of a specific component of the turbine engine that ignited an oil fire.

The London based Rolls-Royce, in a trading update on Friday, stated that for the incident the full year profit growth of the company maybe lower than what was stated previously but further stated that the losses will be compensated by the company's other operations.

All the investors and analysts were keenly waiting to get the update from the engine maker who is the second biggest engine manufacturer of the world after General Electric and one of the last global industrial manufacturers of the UK. The shares of the company went down by ten percent after the incident.

The company has stated that it has drawn two conclusions after inspecting the Trent 900s following the last week's incident.

It pointed out that the issue confined within the engines of Trent 900 engines and stated that to the London Stock Exchange. It further stated that the problem that occurred in the last week is confined to a specific component in the turbine area of the engine that has sparked the oil fire and gave rise to the release of the intermediate pressure turbine disc.

The statement given by the company are in accordance with the report of the European Aviation Safety Agency which directed the company on Thursday to re-examine all of their Trent 900 engines and keep aircrafts grounded if they have any suspected leaks.

According to the European Aviation Safety Agency, the explosion happened by an oil fire inside the engine of the Quantas jet.