financetom
Business
financetom
/
Business
/
RTX's Pratt & Whitney, Wizz Air Sign Compensation Deal Over Engine Issues
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
RTX's Pratt & Whitney, Wizz Air Sign Compensation Deal Over Engine Issues
Dec 31, 2024 6:26 AM

08:58 AM EST, 12/31/2024 (MT Newswires) -- RTX's (RTX) Pratt & Whitney and Wizz Air have signed a commercial support agreement that includes a compensation package to mitigate the effects of the grounding of dozens of aircraft over engine issues, Wizz Air said Tuesday.

The agreement covers direct costs related to the grounded aircraft as well as operational support, according to Wizz Air.

At least 40 planes are expected to be out of service through fiscal 2026 for inspections and potential repairs, the company said, adding it will continue to collaborate with Pratt & Whitney to return the planes to service as quickly as possible.

Wizz Air said it expects to return to growth in fiscal 2026, when it takes delivery of 50 new Airbus A321NEO, which will increase seat capacity by about 20%.

Pratt & Whitney did not immediately respond to MT Newswires' request for comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Baltimore's alternate shipping channels not deep enough, Maersk says
Baltimore's alternate shipping channels not deep enough, Maersk says
Apr 17, 2024
OSLO (Reuters) - The Baltimore port's alternate shipping channels are not deep enough to accommodate the oceangoing container vessels that Maersk and other carriers use, the Danish shipping group said in a statement on Wednesday. A container vessel chartered by Maersk collided with a major bridge in the U.S. port of Baltimore's harbour last month, causing the structure to collapse....
Banks told to anticipate risks from using AI, machine learning
Banks told to anticipate risks from using AI, machine learning
Apr 17, 2024
LONDON (Reuters) - Banks must anticipate risks from using artificial intelligence (AI) and machine learning (ML) in their operations as part of their day-to-day governance, a top global banking regulator said on Wednesday. There are unanswered questions on whether the use of AI or ML in banking is a net positive or negative to global financial stability, said Bank of...
Update: Blue Sky Uranium Shares Slip as it Launches $1-Million Private Placement of Share Units
Update: Blue Sky Uranium Shares Slip as it Launches $1-Million Private Placement of Share Units
Apr 17, 2024
11:48 AM EDT, 04/17/2024 (MT Newswires) -- Blue Sky Uranium ( BKUCF ) said Wednesday it is raising C$1 million in a private placement of share units. The company said it is looking to place 16.67-million units in the financing, with each priced at C$0.06 and made up of a share and a warrant exercisable at C$0.09 per share for...
Custom Truck One Source Acquires A&D Maintenance and Repair
Custom Truck One Source Acquires A&D Maintenance and Repair
Apr 17, 2024
11:25 AM EDT, 04/17/2024 (MT Newswires) -- Custom Truck One Source ( CTOS ) said Wednesday that it acquired A&D Maintenance and Repair, a full-service repair facility in New York. No financial terms were disclosed but Custom Truck One Source ( CTOS ) said the acquisition adds A&D's team and a space of over 20,000 square feet to its operations,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved