Breaking News: Cathay Pacific Fleet-Wide Inspection Causes Rolls-Royce Shares to Plummet
In a shocking turn of events, Hong Kong's Cathay Pacific Airways has initiated a fleet-wide inspection of its Airbus A350 aircraft following an engine component failure. This move has caused shares in British engine maker Rolls-Royce to plummet.
Cathay Pacific has cancelled 24 return flights and several aircraft will be out of service for days as a precautionary measure. The engine failure was identified during a flight to Zurich and is the first of its kind on any A350 aircraft worldwide.
Shares in Rolls-Royce, the sole engine provider for the A350, dropped by 8.8% after the incident. Repair work is underway as spare parts have been secured to replace the faulty engine components.
Cathay Pacific is working closely with aviation authorities and manufacturers to address the issue. The affected aircraft is an A350-1000 powered by Rolls-Royce's largest jet engine, the XWB-97.
This development raises concerns about the safety of long-haul flights and the reliability of aircraft engines. Investors and passengers alike should monitor the situation closely as it could impact the financial stability of both Cathay Pacific and Rolls-Royce.
In conclusion, this incident serves as a reminder of the importance of rigorous maintenance checks in the aviation industry. It highlights the potential risks associated with engine failures and the need for swift action to ensure passenger safety.
