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costly engine overhaulsCNBC
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80% Informative
The repair and overhaul of engines has swelled from a $31 billion business before the pandemic to $58 billion this year .
American Airlines is on track to increase its overhauls roughly 60% from 2023 to more than 16 engines a month this year . The company is adding 200 jobs at its Tulsa , Oklahoma , engine shop.
Low-cost airlines are deferring new jet deliveries to save money.
GE Aerospace brought in $11.7 billion from engine maintenance, repairs and overhaul in the first half of 2024 , making up 65% of its revenue.
Rental rates for engines that match up with both old and new planes have skyrocketed.
Leasing firms like AerCap and Avolon have been snatching up spare engines because of high demand.
VR Score
87
Informative language
89
Neutral language
46
Article tone
semi-formal
Language
English
Language complexity
43
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
1
Source diversity
1
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