Air New Zealand cancels flights after “events” involving Rolls-Royce engines

Engines on its Boeing 787-9 jets would now require early maintenance, Air New Zealand said in a statement. Above, a Boeing 787 aircraft takes off from Auckland Airport. (Reuters)
Updated 07 December 2017
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Air New Zealand cancels flights after “events” involving Rolls-Royce engines

WELLINGTON: Air New Zealand said on Thursday “two recent events” involving Rolls-Royce Holdings Trent 1000 engines had prompted it to cancel and delay some international flights over the coming weeks, making it the latest airline to experience problems.
Engines on its Boeing 787-9 jets would now require early maintenance, it said.
Rolls-Royce told investors in August that 400 to 500 Trent 1000 engines were affected by issues with components wearing out earlier than expected, according to a conference call transcript.
Air New Zealand did not disclose the nature of the two events, but the New Zealand Transport Accident Investigation Commission said it was investigating two events involving “engine abnormalities” on Air New Zealand aircraft this week.
The Aviation Herald reported on Tuesday that an Auckland-Tokyo flight had returned to its base after take-off due to an engine issue, while plane tracking website FlightRadar24 said a flight to Buenos Aires had returned to Auckland on Wednesday.
Japan’s ANA Holdings and Britain’s Virgin Atlantic have also reported issues with the engines over the last 18 months.
Air New Zealand said Rolls-Royce did not have spare engines available while the maintenance work was being undertaken, meaning it would be focused on finding replacement aircraft capacity.
Rolls-Royce said it was working with Air New Zealand to minimize disruption and restore full flight operations as soon as possible.
“It’s not uncommon for long-term engine programs to experience technical issues during their life and we manage them through proactive maintenance,” a Rolls-Royce spokeswoman said.
Air New Zealand said it did not anticipate any change to current earnings guidance at this stage.


CrowdStrike said to hire Goldman Sachs to lead IPO

Updated 20 October 2018
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CrowdStrike said to hire Goldman Sachs to lead IPO

  • IPO could come in first half of next year
  • CrowdStrike raised $200 million in June

NEW YORK: Cybersecurity software maker CrowdStrike Inc. has hired investment bank Goldman Sachs Group to prepare for an initial public offering that could come in the first half of next year, people familiar with the matter said on Friday.
CrowdStrike is aiming to be valued more than the $3 billion funding round assigned to it earlier this year, the sources added.
CrowdStrike’s IPO plans could still change, the sources cautioned, asking not to be identified because the matter is confidential.
CrowdStrike and Goldman Sachs declined to comment.
Sunnyvale, California-based CrowdStrike raised $200 million in June led by investors General Atlantic, Accel and IVP. Other major backers include CapitalG, an investment arm of Google’s parent company Alphabet Inc. and Warburg Pincus.
CrowdStrike uses artificial intelligence for its Falcon platform to prevent attacks on computers on or off the network.
CrowdStrike is trying to stand out from the hundreds of security startups that have sprouted in recent years, promising next-generation technologies to fight cyber criminals, government spies and hacker activists, who have plagued some of the world’s biggest corporations.
The recent crop of publicly listed cybersecurity companies have had a mixed stock performance. Zscaler Inc. went public in the spring and is trading 125 percent above its IPO price. Tenable Holdings Inc. is worth about 25 percent more than its IPO price. Carbon Black shares have been trading below their IPO price.
CrowdStrike was founded in 2012 by two executives who left security software maker McAfee, including George Kurtz, the startup’s chief executive.