"RTX Stock Plunges on Pratt & Whitney Engine Problems"
RTX Corp, formerly Raytheon, announced that a significant number of its Pratt & Whitney GTF engines, which power Airbus A320neo jets, will require accelerated removals and inspections due to a rare condition in the powder metal used to manufacture certain engine parts. This announcement caused RTX shares to drop 12%. The issue is not an immediate safety concern, and there will be no impact on engines currently in production. RTX reduced its 2023 cash flow forecast by $500 million but increased its sales expectation. Airbus stated that A320neo deliveries would not be affected, and it would work with airlines to minimize disruption.