Why Airlines Like American Are Scrambling To Make Engines Last Longer [rAsk8UM_G6Z]

Why Airlines Like American Are Scrambling To Make Engines Last Longer [rAsk8UM_G6Z]

| 1h 28m 28s | Video has closed captioning.

A jet engine is the most important part of a commercial airplane. And repairing them has become a $58 billion dollar business. (Source: AeroDynamic Advisory) A commercial jet engine is a complex, expensive machine, made up of thousands of parts. Engines typically stay in service for about 30 years and need to be taken off wing and overhauled roughly every 5-8 years. An engine overhaul can range from $4-15 million dollars. The process involves disassembling it and replacing all the worn or damaged parts like blades which can cost up to $30,000 a piece. While passengers are flying in record numbers, manufacturing and supply chain problems have persisted post-pandemic. Boeing and Airbus delays on new aircraft have forced some airlines to fly older planes longer to keep up with demand. And the after market has been booming for older engines. Demand for old engines, coupled with an engine recall has led to long delays in maintenance shops. Before the supply chain issues, a typical narrowbody engine took 60-75 days to overhaul and that time has gone up in some cases to over 200 days. While hundreds of airlines use outside companies, legacy carriers like Delta and American Airlines perform engine maintenance in-house. American said it’s on track to increase engine overhauls by 60% compared to past year. CNBC traveled to Tulsa, Oklahoma to get an inside look at how it works and explores the outlook for the market. Correction 1:14 - The date this Reuters article was published was September 11, 2023. Chapters: 2:06 How engines work 3:23 Engine market 5:40 How engines are maintained 9:35 Supply chain problems Produced, shot and edited by: Erin Black Animations by: Jason Reginato Supervising Producer: Jeniece Pettitt Editorial Support: Leslie Josephs » Subscribe to CNBC: » Subscribe to CNBC TV: About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be more successful and confident with your money? Take CNBC Make It’s new online course. Our expert instructors will help you master your money and discover practical strategies to boost your savings, reduce debt, and grow your wealth—in a way that works best for you. Enroll in "Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure" to start your journey to financial freedom today! Get a 30% discount with the coupon code EARLYBIRD until September 2, 2024: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Instagram: Follow CNBC News on Facebook: Follow CNBC on Threads: Follow CNBC News on X: Follow CNBC on WhatsApp: #CNBC #Airlines #Airplanes Why Airlines Like American Are Scrambling To Make Engines Last Longer