RTX (formerly Raytheon Technologies) reported a 21% drop in sales compared to the previous year due to a metal powder quality crisis that led to engine failure of the V2500 engine fleet, the company said in its third-quarter earnings statement today. In July, RTX said that in 2020, its business unit, Pratt & Whitney, located a rare condition in the metal powder used to manufacture certain engines that needed immediate inspections. The company at the time also added that it...
