RTX Expanding Engine Checks for Pratt & Whitney Engines, Grounding Hundreds of Airbus Planes Through 2024

RTX expanding required engine checks for Pratt & Whitney GTF engines, grounding hundreds of A320 planes through 2026
About 3,000 engines need component checks due to contaminated metal powder over next 3 years
Will result in 350 planes grounded per year on average, peaking at 650 in 2024
RTX cut full-year sales outlook, taking $3B charge to address issue
Airbus says inspections won't affect 2022 delivery targets, but airlines say capacity will be reduced through 2024

yahoo.com

Relevant topic timeline:

9/11/2023

RTX Stock Drops as Company Expects Billions in Costs to Fix A320 Jet Engines

RTX stock falls as the aerospace company updates investors on the costly repairs needed for Airbus A320 jet engines.

9/12/2023

RTX Takes $3 Billion Charge Due to Flawed Pratt & Whitney Jet Engines, Sees 350 Planes Grounded Yearly Through 2026

Shares in RTX Corp, the parent company of Pratt & Whitney, plummeted to a two-year low as the company revealed it would ground hundreds of Airbus jets over the next few years to address a rare manufacturing flaw, projecting that an average of 350 jets per year could be grounded through 2026 and estimating a $3 billion charge and $6-7 billion in gross costs to rectify the issue.

9/12/2023

RTX engine flaw causes widespread repairs, capacity cuts across aerospace industry

Aerospace suppliers and airlines are warning of rising costs and a squeeze on plane capacity after RTX disclosed that a rare manufacturing flaw could ground hundreds of Airbus jets in the coming years.