Army grounds entire Chinook helicopter fleet over engine fires: report

The U.S. Army has reportedly grounded its entire fleet of CH-47 Chinook helicopters after several engine fires.

Following a string of recent engine fires that had plagued the vehicles, the Army chose to ground the fleet "out of an abundance of caution," the Wall Street Journal reported. There have been no deaths in connection with the fires.

U.S. Army Materiel Command is examining more than 70 aircraft that include a part they believe to be connected with the fires.

The Army maintains hundreds of helicopters, but the inspection reportedly will focus on units made by Boeing using engines from Honeywell International.

“The safety of our soldiers is the Army’s top priority, and we will ensure our aircraft remain safe and airworthy,” an Army spokesperson said, per the WSJ. The military branch also said it had identified the root cause of the fuel leaks that caused the fires.

Both firms' stock prices tumbled following the news, according to MarketWatch. Each lost about 0.3% of their market price following the announcement.