Airplane engines are in short supply. The business of fixing older ones is booming
Publishing timestamp: 2024-09-04 09:40:53
Summary
Aircraft engine shops around the world are overflowing with parts and labor shortages, delayed deliveries of new airplanes, engine recalls, and premature repairs. The repair and overhaul of engines has become a $58 billion business this year, up from $31 billion before the pandemic. Airlines like American Airlines are taking matters into their own hands by increasing their engine overhauls and repairs in-house. The high demand for engine overhauls has been lucrative for engine suppliers, but it has also led to supply chain issues and delays in new airplane deliveries. Low-cost airlines are deferring new jet deliveries to save money, and leasing rates for engines have skyrocketed.
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Keywords: breaking news: markets, business news, american airlines group inc, airbus se, raytheon technologies corp, boeing co, delta air lines inc, general electric co, travel, markets, breaking news: business, spirit airlines inc, jetblue airways corp, technology, aerospace and defense industry, airlines, business, transportation,
Source: https://www.cnbc.com/2024/09/04/airplane-engines-repairs.html