Friday, July 18, 2008

Pratt & Whitney powers aircraft with $83M contract

By Mass High Tech Staff

Aircraft engine maker Pratt & Whitney, a division of United Technologies Corp., has received an $83 million contract to manufacture and supply CIT Aerospace with its International Aero Engines V2500 engines. The engines, CIT reports, will be used in 15 Airbus A320-family aircraft.

The V2500-A5 engines, which currently number over 5,000 in service or on order, feature thrust settings ranging from 22,000 lbs to 33,000 lbs.

Hartford, Conn.-based United Technologies (NYSE:UTX) reported a 2007 net income of $4.2 billion on revenue of $54.8 billion.

In September 2007, Pratt & Whitney landed $52 million from the U.S. Air Force to develop more than 1,000 digital electronic engine controls for the Air Force’s F-15 and F-16 aircraft.

CIT Aerospace is an aircraft leasing organization under the CIT Group Inc. (NYSE:CIT) umbrella.

International Aero Engines is a global consortium that includes Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corporation and MTU Aero Engines.