United Technologies Corp Chief Financial Officer Neil Mitchill said he expects 2020 operating profit at the U.S. aircraft parts maker’s Collins Aerospace unit, its biggest, to be hurt largely due to the grounding of Boeing Co’s 737 MAX aircraft. About $225 million of the impact to its full-year operating profit is due to a divestiture and lower sales related to a surveillance technology that facilitates tracking of aircraft position during flight, Mitchill told Reuters. “Rest relates to the 737 MAX,” Mitchill said, as UTC temporarily halted production of the aircraft parts earlier this month. …read more
Source:: Yahoo Finance
