Aerospace and defense company RTX (RTX -0.10%) didn't really have a banner day on the market Thursday, but in a trading session when the S&P 500 index fell by 0.6%, the stock's flat performance made it a winner. Investors were reacting to good news from one of RTX's three core business divisions.
Up in the air
That division is aircraft engine specialist Pratt & Whitney, which this morning reported it had earned an important certification abroad.
Image source: Getty Images.
Specifically, Pratt Whitney's GTF Advantage engine got the nod from the European Union Aviation Safety Agency (EASA). This follows similar certification from EASA's American equivalent, the Federal Aviation Agency (FAA), and the company said it clears a path for the product to enter service next year.
The GTF Advantage is a next-generation engine for airliners that, according to its maker, delivers more thrust and boasts higher fuel efficiency than competing products currently on the market.
Big promises
In its press release divulging the happy news, Pratt & Whitney quoted its president of commercial engines, Rick Deurloo, as saying that the company's new engine "will be a game-changer for operators."
Despite the confidence, however, Pratt & Whitney did not provide any estimates as to how sales of the GTF Advantage will impact its fundamentals, or those of its parent RTX.
