Stock Market News

No Singapore Airlines group A320neos with Pratt engines grounded – exec

2023.05.17 01:09


© Reuters. FILE PHOTO: A flight crew passes a Singapore Airlines logo at Singapore’s Changi Airport January 5, 2016. REUTERS/Edgar Su

SINGAPORE (Reuters) – None of the Airbus A320neo planes in the Singapore Airlines (OTC:) group with Pratt & Whitney engines are currently grounded over a lack of spares, Leslie Thng, CEO of Scoot, the airline’s low-cost subsidiary, said on Wednesday.

The engines have been under scrutiny since Go Airlines (India) Ltd filed for bankruptcy protection this month, blaming “faulty” Pratt engines for the grounding of about half its 54 Airbus A320neos.

Pratt, part of Raytheon Technologies (NYSE:) says the claims are without evidence and divert attention from the airline’s financial woes.

Scoot has 15 A320neo family planes in its fleet, while premium brand Singapore Airlines instead operates the rival Boeing (NYSE:) Co 737 family.

“We are expecting to take more deliveries in coming years,” Thng said of the Airbus narrowbody planes.

His comments were in response to questions at a post-results briefing with analysts and media after Singapore Airlines reported on Tuesday its first annual profit in four years and said the current year was off to a strong start.

India’s IndiGo, Germany’s Lufthansa and Air New Zealand have said some of their aircraft have been grounded over issues with Pratt GTF engines at a time when spares are in short supply.

Prior to the Go Airlines bankruptcy, about 12% of the A320neo family planes globally with Pratt GTF engines were inactive, compared to just 4% for those with rival engines made by CFM International, aviation consultancy IBA said this month.

Raytheon (NYSE:) CEO Greg Hayes said in February that the GTF engines’ reliability has not been up to expectations and that the company was working to fix problems.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 104,636.03 1.87%
ethereum
Ethereum (ETH) $ 2,688.89 8.10%
xrp
XRP (XRP) $ 2.59 2.28%
tether
Tether (USDT) $ 1.00 0.03%
bnb
BNB (BNB) $ 666.23 0.64%
solana
Solana (SOL) $ 182.78 6.08%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.239191 4.49%
cardano
Cardano (ADA) $ 0.83264 2.15%
tron
TRON (TRX) $ 0.271484 1.09%
staked-ether
Lido Staked Ether (STETH) $ 2,683.61 8.05%
sui
Sui (SUI) $ 4.07 2.92%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 104,637.04 1.81%
chainlink
Chainlink (LINK) $ 17.61 5.82%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,233.11 8.37%
avalanche-2
Avalanche (AVAX) $ 25.89 4.49%
stellar
Stellar (XLM) $ 0.315937 0.63%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 4.94%
hedera-hashgraph
Hedera (HBAR) $ 0.216955 1.50%
pi-network
Pi Network (PI) $ 1.25 7.77%
hyperliquid
Hyperliquid (HYPE) $ 26.25 6.81%
the-open-network
Toncoin (TON) $ 3.42 2.40%
bitcoin-cash
Bitcoin Cash (BCH) $ 414.85 0.59%
leo-token
LEO Token (LEO) $ 8.71 1.91%
litecoin
Litecoin (LTC) $ 104.72 2.44%
polkadot
Polkadot (DOT) $ 5.21 2.43%
weth
WETH (WETH) $ 2,693.93 8.24%
usds
USDS (USDS) $ 1.00 0.02%
monero
Monero (XMR) $ 341.89 1.38%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,873.80 8.25%
pepe
Pepe (PEPE) $ 0.000015 8.10%
bitget-token
Bitget Token (BGB) $ 4.80 0.93%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.07%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 104,702.05 1.88%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
whitebit
WhiteBIT Coin (WBT) $ 30.22 0.04%
uniswap
Uniswap (UNI) $ 7.18 4.13%
bittensor
Bittensor (TAO) $ 465.22 2.94%
near
NEAR Protocol (NEAR) $ 3.26 3.01%
aptos
Aptos (APT) $ 6.21 6.44%
dai
Dai (DAI) $ 1.00 0.02%
aave
Aave (AAVE) $ 236.00 6.88%
ondo-finance
Ondo (ONDO) $ 1.06 2.83%
kaspa
Kaspa (KAS) $ 0.125051 9.16%
okb
OKB (OKB) $ 54.24 0.70%
ethereum-classic
Ethereum Classic (ETC) $ 20.85 5.78%
internet-computer
Internet Computer (ICP) $ 5.88 2.23%
crypto-com-chain
Cronos (CRO) $ 0.103419 2.03%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
tokenize-xchange
Tokenize Xchange (TKX) $ 36.32 5.58%