Rolls-Royce Plc will incur additional delays in fixing problems with its Trent 1000 aircraft engine, hampering efforts to get grounded Boeing Co. 787 Dreamliners back in the air.
The challenge of replacing engine components with less-than-expected durability will delay the return of normal service until the second quarter of next year, the company said in a statement on Friday. Rolls-Royce shares fell as much as 5%.
The Trent 1000 engine affects carriers including Norwegian Air Shuttle ASA, which has had to “wet lease” planes complete with crews to maintain long-haul services. Europe’s air-safety regulator called on 787 operators to undertake accelerated engine inspections after some Trent 1000 turbine parts wore out earlier than expected.
Design glitches have plagued the Trent program since 2016, leading to about $1.7 billion in charges, while eating into Rolls-Royce’s share of turbines for 787 jets against rival engine maker General Electric Co. Last year, the company said the intermediate pressure turbine blades, which had already been flagged for replacement, weren’t lasting long enough to meet maintenance schedules.
Rolls-Royce traded 3.6% lower at 780.40 pence as of 9:04 a.m. in the U.K. capital, for a market value of 15 billion pounds.
