Benzinga | Oct 25, 2021 03:18PM EDT

Spirit Airlines Picks Pratt & Whitney GTF Engines To Power A320neo Aircraft

* Spirit Airlines Inc (NYSE:SAVE) has signed an agreement with Pratt & Whitney, a Raytheon Technologies Corp (NYSE:RTX) business, for PW1100G-JM engines to power its latest order of new A320neo Family aircraft. Financial terms were not disclosed.

* The company expects the deliveries from the firm 100-aircraft order to begin in 2023, and the agreement includes options for another 50 aircraft.

* Additionally, Spirit and Pratt & Whitney entered into an EngineWise Comprehensive long-term maintenance agreement to service Spirit's fleet of aircraft.

* Price Action: SAVE shares are trading lower by 0.61% at $22.86, while RTX is lower by 0.71% at $91.21 on the last check Monday.