Pratt & Whitney to get $1.05 billion for 48 enginesStaff writer ▼ | October 31, 2014
Pratt & Whitney got a contract to build an eighth batch of 48 engines for the F-35 fighter jet built by Lockheed Martin. The total value of the deal to $1.05 billion.
For fighter jets 4.4 percent cost reduction in the seventh batch of engines
Air Force Lieutenant General Chris Bogdan, program executive officer for the Pentagon's F-35 program, welcomed the cost cuts in the new contract, which follow an average 4.4 percent cost reduction in the seventh batch of engines.
The cumulative reduction of about 9 percent in the two contracts showed Pratt's renewed commitment to the "war on cost" it initiated several years ago, Bogdan told reporters at the headquarters of the F-35 program. He said he would continue to press the company for further cuts in the cost of the F135 engine that powers the newest and most advanced U.S. warplane.
Neither Pratt nor the Pentagon disclosed the specific cost of each engine under the new contract. ■