Pratt & Whitney, a division of United Technologies Corp. (UTX), recently signed a PureSolution Fleet Management Program agreement with SkyWest, Inc (SKYW). The 16-year agreement will support the PW1217G engines installed in SkyWest fleet of 100 MRJ90 Mitsubishi Regional Jets and includes an option for an additional 100 MRJ90 Mitsubishi Regional Jets.
The PureSolution Fleet Management Program will offer maintenance, repair and overhaul (MRO) services and expertise from PurePower engine’s original equiment manufacturers (OEMs). The program offers customized MRO services while ensuring minimum deviation from estimated maintenance costs. Apart from this, Pratt & Whitney's in-depth knowledge and experience will help in maximizing the PurePower engine's longevity as well as its performance in the long run.
Headquartered in St. George, Utah, SkyWest is the holding company for an aircraft leasing company and two scheduled passenger airline operations - SkyWest Airlines, Inc. and ExpressJet Airlines, Inc. It has a combined fleet of approximately 758 aircrafts. Under this deal, each MRJ90 will be powered by two PurePower PW1217G engines with deliveries expected in early 2017.
United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company’s growth is driven by strategic acquisitions and internal development of existing businesses. Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets. In the last reported quarter, Pratt & Whitney’s revenues increased 11.5% year over year.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now in the industry include Macquarie Infrastructure Company LLC (MIC) and Honeywell International Inc (HON), each carrying a Zacks Rank #2 (Buy).
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