Pratt & Whitney Follows Boeing to Mideast

NEW YORK (TheStreet) - U.S.-based companies have recently laid hands on deals from Middle East. Pratt & Whitney, a subsidiary company of United Technologies (UTX) has its hands on two deals, while Boeing (BA) has one in its kitty.

In a recent deal, Pratt & Whitney has also been awarded a $145 million deal to supply engines to power the Royal Moroccan Air Force new fleet of F-16 aircraft. The delivery is scheduled for 2010 and 2011. In another deal, Yemen Airways awarded International Aero Engines, multinational consortium of Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corporation and MTU Aero Engines, an order for V2500 engines to power its 10 airbus A320 aircraft. Out of the total order, the value and aftermarket agreement is worth approximately $100 million to Pratt & Whitney.

Pratt & Whitney, is regarded as the world leader in the design, manufacture and service of aircraft engines, industrial gas turbines and space propulsion systems. Its parent company United Technologies Corporation is scheduled to release its second-quarter earnings on Wednesday, July 21. Reuters estimates second-quarter earnings per share to be around $1.16 as compared to $1.05 in the same year-ago period. Revenue is expected to come in at $13.56 billion.

In a separate development, Boeing revealed that Dubai-based Emirates has placed an order for 30 Boeing 777-300 Extended Range airplanes at the 2010 Farnborough International Air show in England. Besides, Emirates has also ordered 30 GE90 engines, including spare engines, from a General Electric ( GE) unit -- GE Aviation, valued at $2 billion at list price.

Karvy Global Services (www.karvyglobal.com), a subsidiary of the Karvy group (www.karvy.com), provides specialized research in asset classes including stocks, mutual funds and insurance to leading Wall Street firms.

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