Pratt & Whitney, a unit of diversified conglomerate United Technologies Corp. (UTX - Free Report) , recently signed a Memorandum of Understanding with the Chinese Sichuan Airlines for powering their new fleet of A320neo aircraft.
Sichuan Airlines is the first Chinese airline to select Pratt & Whitney's PurePower PW1100G-JM engines for its 15 purchased aircraft. Powered by PurePower engines, the A320neo aircraft are expected to deliver a broad range of advantages, including improved fuel burn, lower emissions and reduced noise while also diminishing operating costs.
Sichuan Airlines is accelerating the expansion of its portfolio in a bid to capture the immense market opportunities and enhance its network of approximately 200 domestic destinations. The PurePower engines will help meet the airline's robust demand for cutting-edge and reliable aircrafts.
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 engine.
Based in Hartford, CT, United Technologies – the parent firm of Pratt & Whitney, provides high-end technology products and services to the building systems and aerospace industries worldwide. The company serves various end markets such as aerospace, defense and commercial construction. The business diversification allows United Technologies to remain profitable amid a challenging macroeconomic environment.
United Technologies currently has a Zacks Rank #5 (Strong Sell) Better-ranked stocks in the semiconductor industry that are worth a look now include Harris Corporation , Clearfield, Inc. (CLFD - Free Report) and Motorola Solutions, Inc. (MSI - Free Report) , each carrying a Zacks Rank #1 (Strong Buy).
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