Cathay Pacific Airways inspects A350 fleet after identifying engine part failure
Updates with background, more from statement
Sept 2 (Reuters) -Hong Kong's Cathay Pacific Airways 0293.HK said on Monday it had started a fleet-wide inspection of its Airbus AIR.PA A350 aircraft after identifying an engine component failure, sending shares in British engine maker Rolls-Royce down sharply.
The carrier said it had cancelled 24 return flights operating until the end of Tuesday, and that a number of aircraft would be out of service for several days while the process, which it described as precautionary, was completed.
An Airbus spokesperson referred questions to the airline and to engine maker Rolls-Royce RR.L, which did not immediately respond to a request for comment.
Shares in the British company - the sole engine provider for the long-haul A350 jetliner - fell as much as 8.8% after Cathay reported the engine component failure.
The failure was identified in an aircraft that was forced to return to Hong Kong during a flight to Zurich earlier on Monday. Cathay did not describe the component in detail but said it was the first of its type to suffer such failure on any A350 aircraft worldwide.
"Thus far we have identified a number of the same engine components that need to be replaced. Spare parts have been secured and repair work is underway," it said.
According to Flightradar24 data, the diverted aircraft is an A350-1000, the larger of two models of twin-engined A350. These are powered by the XWB-97, Rolls' largest jet engine.
The aircraft involved was delivered in January 2019, according to the same data.
It was not immediately clear when the affected Rolls-Royce XWB-97 engine was first placed on the aircraft. Experts say airlines and engine makers occasionally swap engines around to fit maintenance schedules.
The airline said it was coordinating with the Hong Kong Civil Aviation Department and the jet and engine manufacturers.
Cathay operates a mixed fleet of Boeing BA.N and Airbus AIR.PA aircraft and has around 100 planes currently on order including freighters, narrow-bodies and wide-bodies, with rights to acquire another 80.
Reporting by Himanshi Akhand in Bengaluru, Joanna plucinska in London, Tim Hepher in Paris; Editing by Alex Richardson and Christina Fincher
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.