February 4, 2013
On Monday, United Technologies (NYSE: UTX ) announced that its Pratt & Whitney subsidiary has just delivered 10 F117 engines to Boeing (NYSE: BA ) for installation on a series of Boeing C-17 Globemaster III destined for the Indian Air Force. Financial terms were not disclosed.
In 2011, Boeing scored a significant win in India when the Ministry of Defense inked a deal to buy 10 Globemasters for roughly $191 million apiece. The first installment of five planes on this deal are due in India this year, with the final five to arrive in 2014.
The Globemaster, of course, is powered by four F117 engines. So at a minimum, this means that Pratt & Whitney can be expected to report 10 more deliveries over the next 10 months. It is possible, however, that spares are part of the Indian ministry's order, in which case Pratt may be asked to deliver in excess of 10 more engines this year.