Raytheon’s Pratt & Whitney signs $5.5 billion modification to F117 engine contract with U.S. Air Force

Raytheon Technologies Corp.’s
RTX,
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Pratt & Whitney has signed a $5.5 billion modification to the previously awarded F117 Engine Sustainment Support contract with the United States Air Force, the company said Wednesday. The modification includes an engine performance improvement package that will eliminate more than 20 shop visits a year due to extended time on wing and will save the customer about $29 million a year in fuel costs, said Pratt & Whitney. “The package will improve the F117 engine’s fuel efficiency, saving up to 6.5 million gallons of fuel annually and reducing CO(2) emissions by up to 140 million pounds per year,” the company said. The contract provides engine services for C-17s operated by the USAF and eight international partners. The work will be conducted between now and the second half of 2028 at Tinker Air Force Base in Oklahoma, as well as at facilities in San Francisco and Columbus, Ohio. Raytheon’s stock has fallen 2.9% in the year to date, while the S&P 500
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has gained 16%.