RTX ENGINE ISSUE WILL GROUND 350 A320NEOS THROUGH 2026

Aerospace supplier RTX (RTX.N) said on Monday that an average of 350 Airbus (AIR.PA)A320neos will be grounded through 2026 as its Pratt & Whitney engines unit removes geared turbofan engines (GTF) for quality checks. As the result of a materials defect that could lead to the cracking of certain engine components, which RTX first described in July, RTX now estimates it will pull 600 to 700 engines off jets for inspections and take $3 billion charge in the third quarter, said RTX, formerly Raytheon.

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