HARTFORD, Conn. (AP) -- As United Technologies Corp. released its third-quarter results on Tuesday, Chief Financial Officer Greg Hayes spoke to analysts on a conference call about the impact on subsidiary helicopter manufacturer Sikorsky of Pentagon cuts in spare parts and repairs.
"We've seen the Black Hawk readiness decline significantly because they're not working the hours, they're not doing the repairs. And right now everybody seems to be comfortable that they can take out fleet readiness."
"But that trend cannot go on forever. I think we expect to see a recovery to more normal aftermarket levels across all the defense businesses next year once we get this thing with sequestration sorted out."