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Aerospace & Defence
Boom time for the $110bn a year industry keeping airlines flying
...Airbus, Boeing and engine makers Rolls-Royce, Safran, Pratt & Whitney and General Electric all provide services and sell spare parts....
October 31, 2023
Google LLC
Google considers charging for AI-powered search in big change to business model
...ChatGPT can give quick and complete answers to many questions, threatening to render redundant a traditional search engine’s list of links, and the lucrative ads that appear alongside them....
April 3, 2024
FT Live
US Pharma and Biotech Summit
Strategies for innovation, pricing and access
Thursday, 16 MayNew York, NY, USA
InterviewJózsef Váradi
Wizz Air chief hails ‘capitalist spirit’ behind £100mn bonus package extension
...“The Pratt & Whitney GTF engine has been causing scarcity of spare engines in the operating market,” he added....
August 3, 2023
News updates from December 15: Rudy Giuliani ordered to pay $148mn to 2020 election workers, Israel mistakenly kills three hostages in Gaza
RTX appoints former Pratt & Whitney head as chief executive
...US aerospace and defence group RTX has appointed the former head of its Pratt & Whitney business as its new chief executive, as it continues to navigate the recall of aircraft engines made by the unit....
December 14, 2023
News updates from December 14: BoE and ECB hold rates steady, ECB’s Lagarde pushes back against rate cuts expectations
RTX appoints former Pratt & Whitney head as its new chief executive
...US aerospace and defence group RTX has appointed the former head of its Pratt & Whitney business as its new chief executive, as it continues to navigate the recall of aircraft engines made by the unit....
December 14, 2023
News updates from September 11: Instacart aims for $9.3bn IPO valuation, EU downgrades growth forecast
RTX to take $3bn hit from Pratt & Whitney engine issues
...US aerospace and defence group RTX Corp, formerly Raytheon, expects to take a $3bn hit from issues with roughly 1,200 Pratt & Whitney engines fitted to Airbus jets....
September 11, 2023
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News in-depthBoeing Co
Airlines count the cost of Boeing’s production slowdown
...Helane Becker, analyst at TD Cowen, said Boeing’s delivery delays plus the grounding of planes powered by defective Pratt & Whitney geared turbofan engines, could combine with strong demand for air travel...
April 25, 2024
easyJet PLC
EasyJet targets another bumper summer of record profits
...Ryanair has been forced to slightly dial down its summer plans amid large delivery delays from crisis-hit Boeing, while Wizz Air has been badly hit by problems with the Pratt & Whitney engines on its Airbus...
April 18, 2024
LexPratt & Whitney
Pratt & Whitney/RTX: engine recall puts cash flow into reverse thrust Premium content
...Last month Pratt & Whitney, a unit of aerospace and defence giant RTX, was forced to issue a recall of its popular geared turbofan engine GTF....
August 16, 2023
Live news updates from August 18: Big Tech shares fall, SoftBank buys full control of Arm
Pratt & Whitney engine flaws could cost global airlines almost $430mn
...Pratt & Whitney parent RTX Corp, formerly Raytheon Technologies, said last month it discovered contaminants in the metal used to manufacture some engine parts, and airlines have been rushing to avoid cancellations...
August 18, 2023
Melrose Industries PLC
Melrose raises profit outlook after doubling earnings
...and Pratt & Whitney....
March 7, 2024
Aviation accidents and safety
RTX hit with $3bn charge from Pratt & Whitney aero engine recall
...Hundreds of aircraft worldwide will be grounded over the next few years owing to problems with Pratt & Whitney engines, in a $3bn hit to parent RTX and another setback for airlines already struggling to...
September 11, 2023
Airlines
Airlines rush to avoid cancellations after engine recall
...Airlines in the US and Europe are rushing to find spare parts and engines and avoid flight cancellations after engine-maker Pratt & Whitney issued a product recall last month....
August 14, 2023
Wizz Air
Wizz Air cuts profit forecast as groundings threaten growth plans
...The London-listed airline on Thursday said it would be forced to ground 45 of its roughly 200 planes because of potential problems with their Pratt & Whitney engines....
November 9, 2023
News updates from October 24: Alphabet’s cloud unit misses on sales, UK unemployment rises to 4.2%
RTX takes $2.9bn hit from engine trouble
...RTX, the US aerospace and defence group, took a $2.9bn hit to operating profits related to problems with its Pratt & Whitney engines....
October 24, 2023
FT Live
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Industrials
Some mildly interesting information about Wizz Air’s grounded planes
...issued 3 November, 2023), and verification performed with Pratt & Whitney, we are projecting a grounding of 45 aircraft by the end of F24 (including aircraft previously grounded in September ‘23 and from...
November 14, 2023
LexAerospace & Defence
RTX/MTU/Melrose: engine recall means risk now defines partnership Premium content
...The US-listed owner of Pratt & Whitney said it expected a dollar hit in single-digit billions from its recall of PW1000G turbofan engines....
September 12, 2023
Emirates
Emirates rules out Airbus A350 purchases until Rolls-Royce resolves engine issues
...Rival engine maker Pratt & Whitney’s latest-generation engine has encountered similar durability challenges in recent months....
November 14, 2023
News updates from November 9: S&P 500 snaps win streak, Ransomware attack disrupts Chinese lender ICBC
Wizz Air trims annual profit forecast despite strong summer trading
...The London-listed airline on Thursday said it would be forced to ground 45 aircraft because of potential problems with their Pratt & Whitney engines....
November 9, 2023
LexRyanair Holdings PLC
Ryanair can ride out Boeing’s mid-flight drama Premium content
...Outages related to Pratt & Whitney engines on the popular Airbus narrow-body jets have affected rival Wizz Air....
January 9, 2024
Melrose Industries PLC
Melrose rules out more deals as founders step aside
...Dilnot said Melrose parts were not directly affected and that the company had limited revenue exposure to the Pratt & Whitney geared turbofan engine programme....
September 7, 2023
Ryanair Holdings PLC
Ryanair boss calls on Boeing to improve quality control after mid-flight accident
...More than a thousand Pratt & Whitney engines need to be removed from Airbus aircraft and inspected, forcing a number of airlines to change their schedules or ground aircraft....
January 9, 2024
News updates from July 26: Federal Reserve raises rates, Billionaire Joe Lewis surrenders to US authorities over insider trading charges
RTX shares plunge on recall of engines powering hundreds of Airbus jets
...RTX shares notched a historic drop after the US aerospace and defence group reported issues related to an estimated 1,200 of its Pratt & Whitney engines fitted to Airbus commercial jets....
July 25, 2023
Rolls-Royce Holdings PLC
Rolls-Royce targets vast upturn in profits
...Rolls-Royce left the market more than a decade ago when it pulled out of a joint venture with Pratt & Whitney of the US. P&W remains the most obvious partner, according to analysts....
November 28, 2023
Rolls-Royce Holdings PLC
Investors cheer sharp shift in fortunes at Rolls-Royce
...The company left that segment more than a decade ago when it pulled out of a joint venture with Pratt & Whitney of the US....
January 1, 2024

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