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Airbus A320neo

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Spirit Airlines Grounds 7 Planes Due to Engine Issues, Revenue Hit Expected

Originally Published 2 years ago — by Fox Business

Spirit Airlines will ground seven Airbus A320neo planes due to an issue with Pratt & Whitney's GTF engines, following a quality control problem with the engines' manufacturing. RTX, the owner of Pratt & Whitney, expects around 200 engines to be inspected by mid-September and another 1,000 engines within the next year. The grounding of the planes will impact Spirit Airlines' September revenue, as it is the largest operator of GTF-powered NEO planes in the U.S. The budget carrier may need to remove more engines in the future, and this development adds to the financial challenges the airline has already faced due to weather issues and air traffic control challenges.

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"RTX Stock Plunges on Pratt & Whitney Engine Problems"

Originally Published 2 years ago — by Reuters

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.

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