In the early days of jet engine-powered transport aircraft, engine failures, in all phases of flight, were a fairly frequent occurrence. Statistics from the 1960s indicate that failures resulting in inflight shutdowns occurred at an approximate rate of 40 per 100,000 flight hours (or 1 per 2,500 flight hours). This rate is the equivalent of every engine failing once every year. By contrast, the failure rate of the engines installed on current generation aircraft have a failure rate of less than 1 per 100,000 flight hours.