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Rtx Corp

All articles tagged with #rtx corp

business2 years ago•3 min saved

"RTX Engine Issue to Cause Annual Grounding of 350 Planes until 2026"

RTX Corp, the parent company of Pratt & Whitney, announced a $3 billion charge and warned airlines that hundreds of their Airbus jets would be grounded at any one time in the coming years due to a rare manufacturing flaw in the Geared Turbofan series. The company estimates that between 2023 and 2026, a total of 600 to 700 engines will need to be pulled off Airbus A320neo jets for lengthy quality inspections, resulting in an average of 350 planes being grounded per year. The repair work, initially expected to take 60 days, is now projected to last up to 300 days per engine. RTX shares fell 7.9% following the announcement.

via Reuters|

#airbus #business #engine-issue

aviation2 years ago•4 min saved

A320 Planes Grounded for Years Due to Pratt Engine Flaw

RTX Corp.'s Pratt & Whitney unit has expanded the scope of required engine checks, affecting nearly its entire fleet of turbines powering Airbus A320 planes. Around 3,000 Pratt & Whitney geared turbofan engines will be removed over the next three years to check for potentially flawed components made from contaminated metal powder. This will result in about 350 aircraft being parked per year through 2026 on average, with the figure peaking at about 650 planes in the first half of 2024. The engine troubles add to the challenges faced by airlines as they work to rebuild operations post-pandemic. RTX also cut its full-year sales outlook and expects a financial hit of up to $3.5 billion over the next several years.

via Yahoo Finance|

#a320 #aviation #engine-flaw

business2 years ago•2 min saved

"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.

via Reuters|

#accelerated-inspections #airbus-a320neo #business