Pratt & Whitney will miss jet engine goal, UTX CE says
United Technologies Corp warned it will miss its 2016 goal for deliveries of a new jet engine by roughly 25%, the latest setback in one of the most important programs for the conglomerate. Pratt & Whitney will likely ship about 150 of its newest family of commercial jet engines, known as the “geared turbofan,” down from a previous target of 200, Gregory Hayes, CE of Pratt parent United Technologies, told investors Friday. There had been warning signs, especially the announcement from Bombardier earlier this month that it was cutting its own delivery schedule, and blaming that on delays from Pratt. “Suffice it to say the airlines aren’t happy they’re not getting the engines,” Hayes said. “We’re not happy we’re not delivering.” Pratt & Whitney executives have previously warned the new engine would put pressure on its supply chain. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-19/general/pratt-whitney-will-miss-jet-engine-goal-utx-ce-says
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Pratt & Whitney will miss jet engine goal, UTX CE says
United Technologies Corp warned it will miss its 2016 goal for deliveries of a new jet engine by roughly 25%, the latest setback in one of the most important programs for the conglomerate. Pratt & Whitney will likely ship about 150 of its newest family of commercial jet engines, known as the “geared turbofan,” down from a previous target of 200, Gregory Hayes, CE of Pratt parent United Technologies, told investors Friday. There had been warning signs, especially the announcement from Bombardier earlier this month that it was cutting its own delivery schedule, and blaming that on delays from Pratt. “Suffice it to say the airlines aren’t happy they’re not getting the engines,” Hayes said. “We’re not happy we’re not delivering.” Pratt & Whitney executives have previously warned the new engine would put pressure on its supply chain. <br/>
