Aerospace manufacturer Pratt & Whitney has agreed to a $1 billion agreement with the Pentagon for a fifth series of F-35 fighter jet engines. The deal means job security for thousands of IAM members at the company, a unit of United Technologies Corp.
The contract covers 35 engines – 32 to be installed in F-35 warplanes and three spares, according to media reports.
“We are pleased with the success our members and Pratt & Whitney have shared and continue to share,” said IAM Aerospace General Vice President Mark Blondin. “We look forward to additional work for our members at Pratt in Connecticut, at Lockheed in Ft. Worth and in the dozens of states that make up the aerospace supply chain.”
Chris Flynn, who heads Pratt’s F135 and F119 engine programs, said the company is working to accelerate the contracting cycle for future production agreements.
“As we move forward in the program, the key factors in driving down cost will be to increase the ramp rate and volume of engines,” Flynn said in a statement. “Achieving greater program stability will help us to progress further down the cost curve to meet the price reduction objectives of the program.”