Rolls-Royce is aware of the incident and is collaborating with Cathay Pacific, Airbus, and relevant authorities, while its shares dropped by 6.5% following the news.

Cathay Pacific Airways is conducting inspections on all 48 of its Airbus A350 jets following an in-flight engine component failure during flight CX383 from Hong Kong to Zurich.

As a consequence of the inspections, several A350 aircraft will be out of service for a few days, leading to significant disruptions in flight schedules, including cancellations of 24 round-trip flights on Tuesday and 10 on Wednesday.

Flights to major destinations such as Bangkok, Tokyo, Taipei, and Osaka have also been affected due to the grounding of these aircraft.

The affected aircraft are powered by Rolls-Royce's Trent XWB-97 engines, which are known for their fuel efficiency.

Reports suggest that a leak in the fuel system likely caused a brief engine fire on the Zurich-bound A350-1000, which was quickly extinguished by the crew.

Airbus is providing full technical support to Cathay Pacific and Rolls-Royce, as the airline operates a mixed fleet of A350-1000 and A350-900 jets.

Passengers affected by the cancellations have been informed and offered alternative travel options, with ticket change fees waived to facilitate rebooking.

Other airlines, including Japan Airlines, are monitoring the situation but have not halted their A350 flights, as Rolls-Royce has not issued a general inspection directive.

Analysts predict that the grounding of the aircraft will negatively impact Cathay Pacific's financial results, although the full extent of the implications remains to be seen.

Once inspections are completed, aircraft cleared for operation will return to service, while those with technical issues will undergo further repairs.

The inspection process is ongoing and is expected to be completed soon, with some aircraft needing repairs and maintenance work.