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Pratt & Whitney incurs $181 mn loss on Go First insolvency: Report
short by Srishty Choudhury / on Friday, 28 July, 2023
American engine manufacturer Pratt & Whitney (P&W) incurred a loss of $181 million after its customer Go First filed for insolvency in May. "Pratt & Whitney recorded an operating profit of $230 million, down 24% versus the prior year. Q2 2023 operating profit included the impact of a charge related to customer insolvency of $181 million," the company said.
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