RTX's Subsidiary Pratt & Whitney Engine Issues Force Airlines To Cut Flights: Report

Airlines in the U.S., Europe, and Asia are reportedly temporarily cutting off some flights and routes to assess aircraft affected by the Pratt & Whitney jet engine recall.

RTX Corporation RTX, in its Q2 Earnings release, stated that Pratt & Whitney has determined that a rare condition in powder metal used to manufacture certain engine parts will require accelerated fleet inspection.

RTX decreased its free cash flow forecast to reflect the impact of the issue, which might result in a multibillion-dollar bill.

Some 137 engines used on Airbus SE EADSY single-aisle jets will need to be inspected over the next several weeks, reported the WSJ, citing RTX. 

Although this is less than the 200 projected, it is nevertheless an issue for carriers already grappling with workforce shortages and air-traffic control congestion, the report added.

Also Read: Despite Pratt's Engine Issue, RTX Still Well-Positioned For Market Recovery: Analyst

Airbus said that the engine problems won't affect production this year but will watch for any impact afterward.

The report added that Hawaiian Holdings, Inc. HA Hawaiian Airlines would suspend some routes and reduce its number of flights to deal with engine inspections in the coming months. Other carriers are evaluating whether to cut flights.

Spirit Airlines, Inc. SAVE would pull seven Airbus A320neo-family jets from service in the fall for inspection, with more than 40 of Spirit's fleet of around 200 jets being affected.

Price Action: RTX shares are trading higher by 0.73% at $85.17 on the last check Monday.