Aerospace supplier RTX said on Monday 600 to 700 geared turbofan engines (GTF) powering Airbus A320neo jets will have to be removed for quality checks, resulting in a $3 billion charge in the third quarter.
A320neo jets will have to be removed for quality checks, resulting in a $3 billion charge in the third quarter.
Shares of the company, whose GTF engines power about half of Airbus A320neo fleet of jets, fell 4.1% before the bell. The company expects to record about $3 billion in pre-tax charge in the third quarter, after partners' share of charges.
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