GPS Instability Hits Embraer E2 Jets; Honeywell Aerospace Equipment Under Scrutiny
HON is trading near its 52-week low of $195.769 (8.2% above the low).
Summary
Embraer disclosed GPS instability affecting its E2 jet family, with Honeywell Aerospace equipment on affected aircraft. Honeywell acknowledged the issue and is assessing the cause. Azul reported operational impacts, including possible route and schedule adjustments. This is a new development with potential reputational and liability implications for Honeywell's aerospace unit, though no safety impact has been reported. Watch for further technical findings and any airline compensation claims.
At the time of this announcement, HON was trading at $211.90 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $67.1B. The 52-week trading range was $195.77 to $260.15. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.