RTX's Subsidiary Pratt & Whitney Engine Issues Force Airlines To Cut Flights: Report
Portfolio Pulse from Akanksha Bakshi
RTX Corporation's subsidiary, Pratt & Whitney, has identified a rare condition in the powder metal used to manufacture certain engine parts, necessitating accelerated fleet inspection. This has led to airlines in the U.S., Europe, and Asia temporarily cutting off some flights and routes. RTX has reduced its free cash flow forecast due to the potential multibillion-dollar impact. Airbus SE and Spirit Airlines are among the affected companies, with 137 engines needing inspection and several jets being pulled from service respectively.

August 07, 2023 | 2:20 pm
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Airbus SE will need to inspect 137 engines over the next several weeks due to the Pratt & Whitney engine issue.
The Pratt & Whitney engine issue affects Airbus SE, with 137 engines needing inspection. This could lead to operational disruptions and potential financial impact, which could negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Hawaiian Airlines will suspend some routes and reduce its number of flights to deal with engine inspections in the coming months.
The Pratt & Whitney engine issue affects Hawaiian Airlines, leading to the suspension of some routes and reduction of flights. This could lead to operational disruptions and potential financial impact, which could negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
RTX Corporation has reduced its free cash flow forecast due to the potential multibillion-dollar impact of the Pratt & Whitney engine issue.
The engine issue identified by Pratt & Whitney, a subsidiary of RTX, has led to the company reducing its free cash flow forecast. This indicates a potential negative financial impact, which could negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Spirit Airlines will pull seven Airbus A320neo-family jets from service in the fall for inspection due to the Pratt & Whitney engine issue.
The Pratt & Whitney engine issue affects Spirit Airlines, with seven jets being pulled from service for inspection. This could lead to operational disruptions and potential financial impact, which could negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70