Following the in-flight failure of an engine component, Hong Kong’s Cathay Pacific Airways announced on Monday, September 2, that it had begun inspecting all of its Airbus A350 aircraft. This news caused shares of British engine supplier Rolls-Royce to drop precipitously.
The airline announced that it had cancelled 24 return flights scheduled to depart by the end of Tuesday and that several aircraft would be unavailable for several days during the preventive procedure.
An Airbus representative directed questions to the airline and Rolls-Royce, which acknowledged the incident and pledged to collaborate closely with Airbus, Cathay, and law enforcement on the investigation.
The company’s shares, which are the only source of engines for the Airbus A350 family of long-haul aircraft, closed down more than 6%, causing the Europe’s defence and aerospace index to fall 2.8%. Flightradar24 data indicates that the issue appeared to arise a few minutes after takeoff when flight CX383 was initially heading south of Hong Kong over the sea.
The tracking data indicated that the aircraft made two broad circles before returning to Hong Kong, where it safely landed approximately 75 minutes after takeoff rather than heading straight north for the approximately 12-hour flight to Zurich.
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