United Technologies announces exit from helicopter business (Sikorsky)

Associated Press ^ | Jun 15, 2015 3:27 AM EDT

[Olog-hai]

United Technologies Corp. has announced it will separate its Connecticut-based Sikorksy Aircraft business as it exits the helicopter business.

The Hartford conglomerate says it will focus on high-technology systems and services to the aerospace and building industries. It says a decision on selling or spinning off Sikorsky will be made by the end of the third quarter. …

[2ndDivisionVet]

Sikorsky Cutting 1,400 Jobs — 180 In Connecticut; Closing Bridgeport Site
http://www.courant.com/business/hc-sikorsky-job-cuts-0603-20150602-story.html

[RayChuang88]

That's because they know the HUGE amount of money they are going to make from the geared turbofan that will enter service in a big way in 2016.

[taildragger]

"That's because they know the HUGE amount of money they are going to make from the geared turbofan that will enter service in a big way in 2016."

Yes they will but, why would you sell such an asset and it's historical significance and they fact that the "X2" counter-rotating rotors and tail prop keeps them on the cutting edge? All I can think of is that it is getting harder and harder to "increase shareholder equity" and they are looking for a way to sweeten the pot for the shareholders by this give-me. Either the shareholders get the spin off or the proceeds of a purchase.

Just my 2 cents....

[muir_redwoods]

I wonder if there’s any connection between this decision, Colt’s Chapter 11 filing and CT Governor Mallory’s disastrous anti-business tax bill just passed.

[Psalm 73]

"Yes they will but, why would you sell such an asset..."

Because we (Sikorsky Aircraft) don't fit the UTC portfolio profile - we are an OEM (Original Equipment Manufacturer) and all of the other companies make components for larger systems (jet engines, landing gear, elevators, air conditioning systems, etc) - it takes longer to realize return on investment from an OEM.

It feels like I just found out my parents were getting a divorce....I knew it was coming, but mom and dad just sat me down this morning and told me "it's over". (Was it me? Is it my fault?....)

[RayChuang88]

Imagine a new generation of 70-110 seat regional jets with 15-17% lower fuel burn than now. And an A320 Family plane with 13-16% lower fuel burn also. Small wonder why Pratt & Whitney persisted in developing a geared turbofan for larger jet airliners (they've been working on this since the late 1990's) and now it will bear fruit with sales that could rival that of what GE and SNECMA did with the CFM56.

And that's only the beginning. Pratt & Whitney could scale up the technology for a new version of the P&W/GE Engine Alliance GP7000 series engine that could cut the already low fuel burn (on a per passenger basis) of the A380 by 15%, which could make it suddenly VERY attractive to many more airlines than just the ME3 airlines (Emirates, Etihad Airways, Qatar Airways). And Pratt & Whitney could offer Boeing a very lucrative deal to offer a large geared turbofan for the 777X that could end Boeing's exclusive deal with GE.

[ExCTCitizen]

Will the last CONSERVATIVE in Connecticut, please fence the state, so LIBERALS can’t get out....