UTC official outlines troubles with Boeing 787 delays
"We have started negotiations with Boeing, talking about the fact that this latest delay especially is going to cause us heart burn from a cash flow," Greg Hayes, UTC vice president of finance and accounting said at an annual aerospace/defense conference in New York.
"It's been a difficult process because of delays in the aircraft. Obviously, we were disappointed in the first delay last year and the second delay that was just announced," Hayes said.
Boeing announced last month that the inaugural flight of the 787 will be delayed up to another three months, pushing delivery of the first plane into early 2009. It's the plane's third delay.
Hayes said the financial impact also is hitting suppliers of Hartford-based United Technologies, he said.
Mary Hanson, a spokeswoman for Boeing's 787 program in Seattle, would not comment on discussions Boeing has had with other businesses.
Hamilton Sundstrand spent nearly $200 million on research and development for the 787 last year, about half of all such spending at Hamilton Sundstrand, Hayes said.
"So there's pressure on R & D even this year," he said
Hamilton Sundstrand is contributing the airline's auxiliary power system, cabin temperature management and control, pressurization control, heating and cooling and other systems.
The new schedule calls for test flights to begin by late June.
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