StandardAero Receives $133M Navy Contract Modification for Poseidon Aircraft Engine Maintenance

StandardAero will continue to provide maintenance and repair support for P-8A Poseidon maritime patrol and reconnaissance aircraft engines under a potential one-year, $209.5 million contract modification awarded by the U.S. Navy. The modification exercises an option on a previously awarded indefinite-delivery/indefinite-quantity contract and covers depot-level maintenance and repair of CFM56-7B27A/3 and CFM56-7B27AE engines in support

Precision Aviation Group, an Atlanta-based portfolio company of private equity firm GenNx360 Capital Partners, has agreed to buy PTB Group, which provides engine support services to the aerospace and defense industries. PAG said Tuesday it aims to complete the acquisition in the fourth quarter of 2022. Australia-based PTB is composed of Pacific Turbine USA Group,

Raytheon Technologies (NYSE: RTX) has received a potential one-year, $132.6 million contract modification from the U.S. Air Force to remanufacture F100 engine modules for foreign military sales customers. The sole-source modification covers F100-PW-100, F100-PW-200, F100-PW-220, F100-PW-220E, F100-PW-229 and F-100-PW-229 EEP engine modules in support of Poland, Greece, Romania, Iraq, Saudi Arabia, Egypt, Pakistan, Chile, Morocco,