RTX Secures $1.15B Contract From US Air Force; Collins Aerospace Inks MRO Agreement With Envoy Air

Raytheon Technologies Corp's RTX Collins Aerospace business has signed a FlightSense flight-hour contract with Envoy Air, a subsidiary of American Airlines Group, Inc. AAL.

Collins will provide maintenance, repair, and overhaul (MRO) services for various systems across Envoy's fleet of 128 Embraer E175 aircraft under the multi-year agreement. The financial terms were no disclosed.

The Collins products covered by the contract are electric power, fire protection, and sensors.

Also Read: Raytheon's Pratt & Whitney Plans $206M Investment In Columbus, Georgia Business

Additionally, RTX has secured a $1.15 billion contract for AIM-120 D-3 and C-8 AMRAAM missiles. This is the largest AMRAAM missile contract to date.

In addition to providing missiles to the U.S. Air Force and Navy, the contract also provides AMRAAM all-up rounds and/or spares to 18 nations, including Ukraine, extending the production line for the U.S. and Allied allies.

Price Action: RTX shares are trading higher by 0.31% at $98 premarket on Wednesday.