Hong Kong’s Cathay Pacific Airways (0293.HK), opens new tab said on Monday it had started inspecting all its Airbus (AIR.PA), opens new tab A350 jets after the in-flight failure of an engine component, sending shares in British engine supplier Rolls-Royce (RR.L), opens new tab down sharply.
The carrier said it had cancelled 24 return flights operating until the end of Tuesday, and that a number of aircraft would be out of service for several days while the process, which it described as precautionary, was completed.
An Airbus spokesperson referred questions to the airline and to Rolls-Royce (RR.L), opens new tab, which said it was aware of the incident and was committed to working closely with Cathay, Airbus and authorities conducting an investigation.
Shares in the company – the sole engine provider for the Airbus A350 family of long-haul jets – closed down more than 6% and dragged Europe’s defence and aerospace index down 2.8%