The US engine manufacturer Pratt & Whitney is deep in the red. The parent company RTX had to announce a loss of $984 million for the third quarter of the current financial year. For comparison: In the same quarter last year, they earned $1,4 billion.

The group result was largely dragged down by the Pratt & Whitney engine division. This had to announce an operating loss of 2,5 billion US dollars. Sales were only $926 million - around 83 percent less than in the third quarter of the previous fiscal year.

The reason behind the financial misery is that almost all GTF engines have been recalled. The discs contain a metal powder that has proven to be problematic. These engines are mainly used on the Airbus A320neo aircraft. Since Pratt & Whitney cannot deliver replacement engines quickly enough, numerous carriers have already had to decommission parts of their A320neo series aircraft. Other machine types are also indirectly affected because the manufacturer is heavily focused on the GTF problem and as a result there are delivery delays for other drives.

It is not expected that the problems can be resolved within a short period of time. Pratt & Whitney currently assumes that it will take around three years until all engines are overhauled. On average, around 350 machines per year will not be available during this period. Only those aircraft in the A320neo series that are equipped with engines from this manufacturer are affected. Those who rely on the competition's Leap, for example, are not affected.

In any case, the financial result of the RTX Group is heavily impacted due to the lousy situation at Pratt & Whitney. The RTF recall is said to have cost around $2,2 billion in the third quarter of the current fiscal year alone. Any compensation, warranty and guarantee claims from the airlines are not included. In this context, Pratt & Whitney could incur significant additional costs.