Cathay Pacific said it will resume full operations by Saturday after replacing defective engine fuel lines on its Airbus A350 planes, a problem that forced it to cancel dozens of flights this week.
Hong Kong flag carrier Cathay Pacific on Wednesday confirmed it expected to return its Airbus A350 aircraft to service by the weekend. An in-flight engine issue on a Sept.
Cathay Pacific has inspected its fleet of Airbus A350-1000 planes and is in the process of making repairs following a weekend engine component failure.
Cathay Pacific has cancelled dozens of flights to inspect Rolls-Royce Holdings PLC (LSE:RR.)-powered A350s following an in-flight issue on Monday.
Rolls-Royce shares were 4.5% higher Tuesday morning after Hong Kong airline Cathay Pacific said issues identified in the British manufacturer's Trent XWB-97 engines could be resolved by Sept. 7. Engine component failures were this week identified in the 15 of Cathay Pacific's A350 aircraft, which use the Rolls-Royce engines, driving Rolls-Royce shares lower Monday.
Rolls Royce shares rose on Tuesday, as the UK engineer sought to recover from its biggest one-day drop this year following news of an engine component failure at Cathay Pacific Airways.
Rolls-Royce Holdings PLC (LSE:RR.) shares were top of the FTSE 100 leaderboard on Tuesday as they rebounded after a share fall yesterday on the back of an in-flight failure reported on a Cathay Pacific flight yesterday.
Hong Kong's Cathay Pacific Airways is inspecting all of its Airbus A350 jets after the in-flight failure of an engine part on Monday, but other airlines have not yet been issued instructions to examine similar engines, carriers said.
Hong Kong's Cathay Pacific Airways said on Monday it was inspecting all 48 of its Airbus A350 widebody jets after the in-flight failure of a component in an engine that is made by British manufacturer Rolls-Royce.
Hong Kong's Cathay Pacific Airways said on Monday it had started a fleet-wide inspection of its Airbus A350 aircraft as a precautionary measure after it identified an engine component failure in one of its flights.
Cathay Pacific's earnings decline despite revenue growth, with passenger and cargo unit revenues decreasing. The stock is significantly undervalued, with a potential 83% upside based on EBITDA and free cash flow estimates. Investors can buy Cathay Pacific stock through OTC trading, with options for different volumes and liquidity levels.
Cathay Pacific will buy 30 Airbus A330-900 wide-body aircraft for a basic price of about $11 billion, with options to buy another 30, the Hong Kong-based airline said on Wednesday.