Pratt & Whitney wins new $508 million contract

Pratt & Whitney says it has received a $508 million to build 38 new engines for the F-35 Lightning II aircraft.

That brings the value Pratt’s contracts from the Pentagon for the planes to $1.1 billion.

The F-35 program has been plagued by massive cost overruns and other problems.

But the Pentagon, which once had harsh words for the F-35, whose main contractor is Lockheed Martin, said things are getting better.

“The engine price has been going down, and that trend will continue,” said Lt. Gen. Chris Bogdan, the F-35 program’s executive officer. “I’ve met with Pratt & Whitney’s senior leaders, and they are working closely with the supply chain to continue to bring down the cost to the government.”