Fabian Gysel
Pratt & Whitney’s recall of hundreds of jet engines has pushed airlines worldwide to limit some flights and routes to inspect affected aircraft, The Wall Street Journal reported Sunday.
RTX (NYSE:RTX), the parent company of Pratt & Whitney, on Friday said 137 engines installed on Airbus (OTCPK:EADSY) (OTCPK:EADSF) narrowbody planes need to analyzed. The inspections may cost the aerospace and defense company, which this year changed its name from Raytheon Technologies (RTX), billions of dollars, the Journal reported.
Spirit Airlines (NYSE:SAVE) on Thursday said it would perform inspections on its Airbus (OTCPK:EADSY) (OTCPK:EADSF) A320neo-family planes this fall. More than 40 of the carrier’s fleet of about 200 jets are affected and next year may prevent the addition of more flights.
Hawaiian Airlines (NASDAQ:HA) will suspend some service in the coming months for engine inspections.
Germany’s Lufthansa (OTCQX:DLAKF) (OTCQX:DLAKY), Volaris (NYSE:VLRS) in Mexico and JetBlue Airways (NASDAQ:JBLU) in the United States said they’re weighing whether to cut flights, the Journal reported.
RTX’s (RTX) stock declined 13% from its closing price the day before it disclosed the engine defect on July 24 through August 4.
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Image and article originally from seekingalpha.com. Read the original article here.