RTX tumbles 10% after disclosing jet engine problem
Publishing timestamp: 2023-07-25 15:21:08
Summary
RTX cuts 2023 free cash flow outlook by $500 million due to manufacturing issue with some engines, leading to accelerated inspections on 200 engines. This will impact airlines and could spill into next year and potentially 2025. Shares of RTX tumbled 10% while General Electric's shares rose due to strong demand for jet engines.
Sentiment: NEGATIVE
Tickers: DAL, A, JBLU, GE, BA,
Keywords: business news, general electric co, boeing co, aerospace and defense industry, jetblue airways corp, markets, delta air lines inc, travel, raytheon technologies corp, breaking news: business, airlines, life, breaking news: markets, business, transportation,