UPDATE 2-UTC sees no big impact from Bombardier engine-test failure
(Adds comments from analyst and Bombardier, stock prices)
By Lewis Krauskopf and Solarina Ho
June 5 (Reuters) - The failure of a Pratt & Whitney jet engine during testing on a new Bombardier Inc plane last week is unlikely to have a significant impact on Bombardier's 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.
The engine failure had raised concern about potential further delays for Bombardier's new CSeries jet, which is already 18 to 24 months behind schedule. Hayes' comments confirmed cautious optimism in the industry and on Wall Street that the fallout from the May 29 incident would be limited.
A problem with Pratt's engine that involved its signature gearing system, known as the Geared Turbofan, could have broader repercussions, since the engine is offered on Airbus's A320neo narrow-body plane and other new regional jets. Earlier on Thursday, Pratt announced it had delivered its first GTF engine to Mitsubishi Aircraft for its MRJ90 regional jet.
But a preliminary analysis showed the engine problem during stationary testing on the Bombardier CSeries jet did not relate to the engine's gearing system, 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. Continued...