Tags: US | Pratt | & | Whitney | Outlook

Pratt & Whitney: Worst of Airline Freefall Is Over

Wednesday, 31 Mar 2010 11:44 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The president of jet engine maker Pratt & Whitney says the worst of the downturn in the airline industry may be over.

David Hess says that passenger miles — a key measurement of the health of the airline industry — are expected to be up 3 percent this year.

Hess says the industry is expected to improve in 2009, though losses will be about $2 billion, far less than the $9 billion it lost in 2009.

Operating profit at Pratt & Whitney fell nearly 14 percent last year, to $1.84 billion from $2.12 billion in 2008. The East Hartford company said in December it expects operating profit this year to rise by $75 million to $100 million.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Two Dead, Several Injured after Plane Crashes at Kansas Airport

Thursday, 30 Oct 2014 12:44 PM

At least two people died and several were injured after a small airplane crashed into a building at Mid-Continent Airpor . . .

Thomas Menino, Boston's Longest-serving Mayor, Dies at 71

Thursday, 30 Oct 2014 12:32 PM

Thomas Menino, whose folksy manner and verbal gaffes belied his shrewd political tactics to govern as Boston's longest-s . . .

Fmr. Boston Mayor Menino Dead After Battling Cancer

Thursday, 30 Oct 2014 11:44 AM

Former Boston Mayor Thomas Menino, who shepherded the city through the deadly Boston Marathon bombing and was the longes . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved