Motor Sich blames An-148 engine failure on human error

Motor Sich (MSICH UK) attributed the recent engine failure in a An-148 that made an emergency landing in St. Petersburg, Russia on March 5 to an error made by the crew, a company representative said yesterday (via Interfax). The incident was the third involving An-148 aircraft in Russia within the last 10 days. All An-148s are equipped with Motor Sich’s D-436 engines.

Roman Dmytrenko: Whatever the reason for the incident, it raises questions about the reliability of the An-148 and casts a doubt on the prospects for new aircraft orders in the near future in Russia. This is particularly important given strong Russian lobbying in favor of the completely Russian project, the Sukhoi Superjet 100, a direct competitor to the An-148. While the SSJ-100 looks less reliable (it’s much younger), negative news flow around the An-148 increases its chances for commercial success. So far, however, we do not adjust our forecasts for An-148 production, but warn that the news might create downside pressure on Motor Sich shares. MSICH lost 3.1% yesterday vs. the UX index’s 2.6% decline.