Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did 😎Read how

Pratt & Whitney awarded $5.2 billion contract to develop engines for F-35 Lightning II

Published 03/06/2023, 03:30 PM
Updated 03/06/2023, 03:37 PM
© Reuters. FILE PHOTO: The logo of Pratt & Whitney is seen in front of a F135-PW-100 fighter aircraft engine during a media presentation at the Swiss Air Force base in Emmen, Switzerland March 24, 2022. REUTERS/Arnd Wiegmann/File Photo

(Reuters) - Pratt & Whitney, a Raytheon Technologies (NYSE:RTX) unit, said on Monday it has been awarded a $5.2 billion contract to support production of the 15th and 16th lots of F135 engines, with an option to award a 17th lot, powering all three variants of the F-35 Lightning II fighter aircraft.

The total contract value for lots 15-17, with exercised options, is about $8 billion and will fund over 418 F135 engines, Pratt & Whitney said.

The contract funds production of 278 F135 engines with an option to order up to 518 engines. It also includes program management, engineering support, production support and tooling.

The U.S. government had cleared Pratt & Whitney to resume deliveries of its F-135 engine for the F-35 fighter jet last month after a halt was put in place in December following the discovery of a safety concern.

As of December 2022, Pratt & Whitney has delivered more than 1,000 F135 production engines.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.