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Pratt & Whitney to get $1.05 billion for 48 engines

Staff 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.
Pratt & Whitney
For fighter jets   4.4 percent cost reduction in the seventh batch of engines
Pratt, a unit of United Technologies, said the new contract was for $793 million, on top of $259 million in preliminary funds awarded and would lower the average cost of the engines between 3.5 percent and 4.5 percent.

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.