RTX stock tanks on news of jet-engine problem

RTX shares fell sharply today after the company announced that it will need to inspect about 200 of its jet engines due to a manufacturing problem. The problem stems from powdered metal used to make some engine parts, and it is not yet clear how many airlines will be affected.

The problem is the latest challenge for airlines, which are already facing delays in aircraft deliveries. The issue is also likely to impact the travel industry, as airlines may have to ground some planes while the inspections are being carried out.

The Federal Aviation Administration (FAA) is aware of the problem and is in contact with Pratt & Whitney and the airlines affected. The FAA said that it will ensure that the appropriate steps are taken to address the issue.

Delta Air Lines, a major Airbus customer, said that it is looking into the issue. Airbus has not yet commented on the problem.

RTX, which is the parent company of airplane engine maker Pratt & Whitney, said that it will be costly to fix the problem. The company has already trimmed its cash-flow outlook for the year by $500 million, and it expects to spend an additional $1 billion to $1.5 billion on repairs.

The problem is likely to have a significant impact on the aviation industry, and it is unclear how long it will take to resolve. However, RTX has said that it is committed to fixing the problem and that it will work with airlines to minimize the disruption. 

Igor Shafran Voronkovski is available to help and offer consultation on any queries you may have.