Mexican carrier Volaris sees Pratt & Whitney engine agreement soon

Mexican airline Volaris expects to reach an agreement with engine maker Pratt & Whitney in the next month on an initial round of mandatory motor inspections, the company's CE said on Wednesday. The inspections, required after RTX Corp-owned Pratt & Whitney discovered a rare powder metal defect, could continue into 2024 and 2025, Volaris CE Enrique Beltranena said in a call with analysts. Of Volaris' 126-aircraft fleet, 73 "may be temporarily affected," Beltranena said, representing a major hit to the company. Pratt & Whitney is expected to shell out billions of dollars to fix the defect, with the vast majority going to airlines. Volaris will not have clarity on the long-term impact of the inspections until at least Q1 of 2024, Beltranena added. However in September alone, Volaris' available seat miles, a measure representing passenger carrying capacity, shrank 8% to represent a revenue hit worth $18m, he said. The airline currently has 16 aircraft grounded, Beltranena added. Volaris trimmed its full-year estimates to reflect the change, with Q4 capacity expected to remain "virtually flat" compared to the year-ago period. The airline had been expecting to boost flights to the United States after Mexico regained a US-given aviation safety rating, which allowed Mexican carriers to expand routes to its northern neighbor.<br/>