United Technologies (UTX) is reportedly looking into a new problem with its Pratt & Whitney engine in the Airbus (EADSY) A2320neo.
XUnited Technologies' Pratt & Whitney unit is investigating extreme vibration in its geared turbofan engines after pilots reported high vibration alerts during flight, sources told Bloomberg.
The vibration issues are the latest in a long list of problems for the Pratt & Whitney engine, slowing delivery of the A320neo narrow-body jets.
At beginning of the year, there were problems with the geared turbofan engine's combustor, according to Bloomberg's sources, which caused a three-month delay. Pratt is still working to fix the issues in engines already in service.
Adding to the concerns, the new engines' parts wear out faster than older engines, leaving carriers scrambling for parts.
Shares of the Dow Jones component fell 0.8% to 132.59 on the stock market today. United Technologies stock is consolidating in a cup-with-handle base with a 136.76 entry point. Airbus' U.S. listed shares slid 1.9% to 31.63 after hitting a record high Wednesday.
Pratt isn't alone with jet engine problems. There have also been durability issues with engines from CFM International, a General Electric (GE)- Safran International joint venture.
As engine makers struggle to meet production targets, carriers are feeling the squeeze with planes already in service.
In March, India's IndiGo and GoAir cancelled more than 600 flights after their A320neos were grounded over Pratt engine issues.
IndiGo is the largest customer for the A320neo and has been leasing older A320s with a conventional engine to ferry passengers as it waits for its new jets.
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The post United Technologies' Pratt & Whitney Engine Causing More Problems For Airbus appeared first on Investor's Business Daily.
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