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Military

NTSB Warns of Problems with GE Jet Engines

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

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In a blow to GE’s (NYSE: GE) huge jet engine division, The National Transportation Safety Board issued

two urgent safety recommendations to the Federal Aviation Administration (FAA)  regarding two recent occurrences in which the fan midshaft on General Electric GEnx-1B engines fractured or exhibited crack indications; and a GEnx -2B incident that appears similar in nature.

The jet engine business has been an earnings generator during a period of the last five years when GE has struggled to increase revenue and has producted lackluster earnings. CEO Jeff Immedlt has done very moderate restructuring of the parent company, the most significant of which was to sell much of its interest in NBCUniversal to Comcast (NASDAQ: CMCSA)

The government warning added:

The recommendations are: (1) Issue an airworthiness directive to require, before further flight, the immediate ultrasonic inspection of the fan midshaft in all GEnx-1B and -2B engines that have not undergone inspection, and (2) Require repetitive inspections of the fan midshaft at a sufficiently short interval that would permit multiple inspections and detection of a crack before it could reach critical length and the fan midshaft fractures.

Boeing (NYSE: BA) was also involved in the investigation.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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