20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Ryanair Holdings Plc (NASDAQ:RYAAY) reportedly discovered unauthorized parts in two aircraft engines, joining other significant airlines in dealing with the issue of components distributed with counterfeit certification documents.
During routine maintenance checks in Texas and Brazil over recent months, the questionable parts were found in aircraft engines and removed, according to a news report by Bloomberg, citing CEO Michael O'Leary in a Dublin interview.
According to aviation authorities, a lesser-known London firm, AOG Technics Ltd., is alleged to have provided thousands of engine parts with counterfeit certification documents for Airbus SE (OTC:EADSY) (OTC:EADSF) and Boeing Company (NYSE:BA) aircraft, the report read.
Also Read: Boeing Overcomes Hurdles With FAA Clearance For 737 MAX 10 Testing: Report
This includes older-generation 737s operated by Ryanair.
Other airlines, such as Delta Air Lines, Inc. (NYSE:DAL), American Airlines Group, Inc. (NASDAQ:AAL), and Southwest Airlines Company (NYSE:LUV) have also discovered dubious parts, as reported by Bloomberg.
O'Leary indicated that he suspects AOG supplied the parts found in Ryanair's fleet, although the Irish budget airline has never directly dealt with AOG, the report read. These components for two engines were received through third parties.
Also See: Ryanair Trims Autumn Winter Schedule Due To Boeing Delivery Delays
Despite this, the CEO stated that Ryanair remains mostly unimpacted by the wider scandal, it added.
Ryanair, which exclusively uses Boeing aircraft, has approximately 1,500 engines in its fleet, as stated by O'Leary.
"Given the level of paperwork that already exists, I'm not quite sure how anybody was able to come up with dodgy parts," he said, which is noted by Bloomberg.
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Price Action: RYAAY shares are trading higher by 1.10% to $119.53 on the last check Friday
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Via Company
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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