Pratt & Whitney, a division of United Technologies Inc. (UTX), recently received an order to supply PurePower Engines for approximately 50 Bombardier jets. These jets were ordered by Macquarie AirFinance to provide its customers an innovative and cost-effective aircraft, which will help them reduce fuel costs (due to lesser fuel consumption) and noise.
Macquarie AirFinance is an aircraft leasing company, which primarily provides aircraft and capital to the world's commercial airlines along with advisory and management services. The company was established in 2006 and currently owns or manages 136 jet aircraft which are leased to 73 operators across about 43 countries.
Pratt & Whitney’s PurePower engine series has been formed through two decades of research and development providing four important aspects – less fuel consumption, lower emissions, reduced engine noise and of course condensed operating costs. Since its launch in 2013, Pratt & Whitney’s Geared Turbofan has received about 6,000 orders from around 60 customers globally. On Sep 25, 2014, Airbus A320neo successfully completed its maiden flight powered by PurePower Geared Turbofan engine.
Separately, in Jul 2014, Pratt & Whitney showcased its new PurePower PW1500G engine at the Farnborough Airshow. The PW1500G engine, in addition to the benefits of fuel, emission, noise and costs, is integrated with a digital terrain system – TERPROM – one of the most advanced terrain awareness and warning systems, providing pilots with complete situational awareness.
Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt & Whitney’s Global Services segment provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management for large commercial engines.
United technologies currently has a Zacks Rank #3 (Hold). Better-ranked companies in the diversified operating sector include Carlisle Companies Incorporated (CSL), Federal Signal Corp. (FSS) and ITT Corp. (ITT). All three carry a Zacks Rank #2 (Buy).
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