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(Corrects headline to say UTC, not UTS)
June 5 (Reuters) - The test failure of a new Pratt & Whitney engine on a Bombardier Inc plane last week is unlikely to have a significant impact on its Bombardier testing schedule, an executive at Pratt parent United Technologies Corp said on Thursday.
"We're working now with Bombardier on a plan to resume testing here in the next few weeks," United Tech Chief Financial Officer Greg Hayes told an investor conference.
A preliminary analysis showed the engine problem during stationary testing on the Bombardier CSeries jet did not relate to the Pratt engine's signature gearing system, known as the Geared Turbofan, Hayes said. He added that the company has confidence in the engine's architecture.
"We think it was something much more simple than that," Hayes said, though he noted the investigation was still ongoing.
"We believe we have an understanding of what occurred and if we're correct, we think it can be rapidly fixed," he added. Hayes said he was confident United Tech would not face any significant financial exposure as a result of the incident.
The failure occurred last Thursday during stationary maintenance testing of the CSeries, which Montreal-based Bombardier has spent billions developing in an effort to compete in the narrow-body jet market with Boeing Co and Airbus .
Pratt's Geared Turbofan engine will also power Airbus's A320neo narrow-body plane as well as other new regional jets. Earlier on Thursday, Pratt announced it had delivered its first GTF engine to Mitsubishi Aircraft for its MRJ90 regional jet. (Reporting by Lewis Krauskopf in New York; Editing by Lisa Von Ahn and Peter Galloway)