Engine Failure Spurs Security Investigation
Over the weekend, a United Airways (UAL) flight from Denver to Honolulu landed 25 minutes after takeoff as a result of its proper engine failed. No passengers or crew members have been injured. The plane was a Boeing (BA) 777-200 with an engine manufactured by Pratt & Whitney, a division of Raytheon Applied sciences (RTX)
Boeing issued an announcement asking airways to cease flying these planes till additional discover. The Federal Aviation Administration is presently within the means of conducting a security inspection of the plane.
Few Airplanes Will Be Impacted by Investigation
There are 127 777s with Pratt & Whitney engines in operation, and United is the one airline within the US utilizing the plane. They’re additionally utilized by Japan Airways, Korean Air, and different worldwide air carriers.
This airplane mannequin is a wide-body plane used for lengthy flights. As a result of demand for worldwide journey has been diminished because of the COVID-19 pandemic, Boeing says lots of the 777s weren’t in service on the time of the engine failure. Although this investigation has brought about dangerous publicity for Boeing, the variety of planes and airways being impacted is pretty small.
The Impression on Boeing, and Different Shares
Boeing shares are up 2% for the yr however have been down 1.8% at market shut yesterday. Boeing’s inventory is down almost 50% since March 2019, when a second 737 MAX airplane was concerned in a deadly crash, and the mannequin was grounded all over the world.
Raytheon Applied sciences inventory additionally dropped since information of the engine failure, although United’s inventory has climbed barely. Traders will likely be desirous to see how the FAA investigation unfolds and what that may imply for these corporations.
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