Deutsche Lufthansa AG (DLAKY - Free Report) , the German aviation company and the largest airline in Europe, recently selected Pratt & Whitney’s PW1100G-JM engines to power 30 additional Airbus Group’s A320neo family aircraft. Pratt & Whitney is one of the operating segments of diversified business conglomerate United Technologies Corp. (UTX - Free Report) .
The PW1100G-JM engine is one of the greenest of its kind from the Airbus stable with a considerable reduction in harmful emissions and a 50% cutback in noise. Designed for maintenance with fewer stages and lower part count, the engine also significantly reduces aviation operating costs.
With more than 8,000 hours of testing, including over 900 hours of flight testing, the engines are likely to serve a vital role in the new Lufthansa jets. This is the second repeat order for Pratt & Whitney after an initial order of 30 PW1100G-JM engines in 2011. Pratt & Whitney will start delivering the engines from 2019 and expects to wrap up the delivery process by 2021.
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 provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services for large commercial engines.
Based in Hartford, CT, the parent company United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company is a diversified business conglomerate serving various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable even in tough economic times.
The operations of the company are primarily classified into two principal businesses: commercial and aerospace. Under its commercial business, the company has Otis and the UTC Climate, Controls & Security division, which combined the former Carrier and UTC Fire & Security divisions. The aerospace business of the company consists of Sikorsky aircraft and the UTC Propulsion & Aerospace Systems, which includes UTC Aerospace Systems and Pratt & Whitney divisions.
United Technologies presently has a Zacks Rank #3 (Hold). Another notable company in the industry worth reckoning include Crane Co. (CR - Free Report) , which currently holds a Zacks Rank #2 (Buy).