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RTX announces between 3 and 3.5 billion dollars in charges due to a defect in its aircraft engines

The American aerospace and defense company RTX, parent company of Pratt.

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RTX announces between 3 and 3.5 billion dollars in charges due to a defect in its aircraft engines

The American aerospace and defense company RTX, parent company of Pratt

RTX had announced in July that many PW1100G-JM engines - those that power the Airbus 320neo - would have to undergo an early inspection because of a defect in a metal powder made by the group to manufacture high pressure turbine discs. . The group then explained that this problem did not cause any immediate danger, but did lead to a risk of premature wear. This contamination potentially affects 1,200 engines produced between the fourth quarter of 2015 and the third quarter of 2021, out of some 3,000 manufactured in all. About 600 to 700 engines will be inspected between 2023 and 2026, in addition to the overhauls that were already planned, RTX said on Monday.

The acceleration of engine removals and maintenance visits will result in more aircraft being kept on the ground, the group further warns. RTX thus explains that it anticipates a “significant increase in the number of A320s, equipped with its PW1100 GTF engine, on the ground” between 2023 and 2026. The charge of 3 to 3.5 billion dollars includes potential compensation for the disruptions caused. The phenomenon risks in fact seizing up in the coming months the schedules of many airlines which were already struggling to respond to the post-Covid recovery.

RTX shares plunged 3.5% Monday morning in electronic trading before the opening of the New York Stock Exchange.

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