Sponsored Links
Pratt & Whitney finalizes $1 billion F-35 jet engine deal
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 |
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)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
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.
Follow Reuters