Pratt & Whitney finalizes $1 billion F-35 jet engine deal

WASHINGTON Tue May 28, 2013 11:41am EDT

The F-35 Lightning II, also known as the Joint Strike Fighter (JSF), is shown in this March 2010 file photograph. REUTERS/Lockheed Martin Corp/Handout

The F-35 Lightning II, also known as the Joint Strike Fighter (JSF), is shown in this March 2010 file photograph.

Credit: Reuters/Lockheed Martin Corp/Handout

WASHINGTON (Reuters) - Pratt & Whitney, a unit of United Technologies Corp (UTX.N), on Tuesday said it finalized a $1 billion deal with the Pentagon for a fifth batch of engines for the single-engine Lockheed Martin Corp (LMT.N) F-35 fighter jet.

The contract covers 35 engines, including 32 to be installed in F-35 warplanes, and three spares, said Pratt spokesman Matthew Bates.

The company reached an initial agreement with the Pentagon on the fifth engine contract in early February.

Chris Flynn, who heads Pratt's F135 and F119 engine programs, said the company continued to work with the U.S. Defense Department to drive down engine costs and accelerate the contracting cycle for future production agreements.

"As we move forward in the program, the key factors in driving down cost will be to increase the ramp rate and volume of engines," Flynn said in a statement. "Achieving greater program stability will help us to progress further down the cost curve to meet the price reduction objectives on the program."

Pratt has delivered 98 production engines for the F-35 program to date.

(Reporting By Andrea Shalal-Esa; Editing by Gerald E. McCormick)

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Comments (8)
pavoter1946 wrote:
….the company continued to work with the U.S. Defense Department to drive down engine costs and accelerate the contracting cycle for future production agreements.

In defense corporate speak, that usually means the engines will be rushed to the military, and naturally, the government will have changed the specs, and expensive modifications will be needed, all at government expense. Modifications necessary since the F-35 will not meet performance targets.

And the more engines delivered, the stronger the case will be made for more and more expensive planes.

Just more of the same defense department pork barrel spending.

May 28, 2013 10:47am EDT  --  Report as abuse
xyz2055 wrote:
At $1B FOR 35 engines, each will cost $28.6M. Seriously?

May 28, 2013 11:08am EDT  --  Report as abuse
This is why we are in so much debt.

May 28, 2013 11:27am EDT  --  Report as abuse
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