Hindustan Aeronautics inks pact worth $100 million with Honeywell for HTT-40 Engines; stock rises

28 Jul 2022 , 09:24 AM

Hindustan Aeronautics Limited announced signing a contract valued at over $100 million. The contract is for the supply and manufacturing of 88 TPE331-12B engines/kits and maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).

Eric Walters, Sr. Director OE Sales, Honeywell, and B Krishna Kumar, Executive Director (E & IMGT) signed the contract today in the presence of Mr. R Madhavan, CMD, HAL.

“HAL has successfully developed the Basic Trainer Aircraft (HTT-40) to meet the IAF’s basic training requirements. A total of 70 aircraft may be required. The contract with IAF is in the final stages of approval,” Madhavan stated.

The TPE331-12B engine is a single-shaft turboprop engine with an integral inlet and gearbox, a two-stage centrifugal compressor, a power turbine, a gearbox, a three-stage axial turbine, and a turbine exhaust diffuser, as well as EEC for dependable power and excellent operational characteristics.

The HTT-40 prototypes have been in service since 2014, powered by TPE331-12B engines. The signing of this ‘Manufacturing & Repair license agreement for Honeywell TPE331-12B Turboprop engine’ marks a significant step forward in the execution of the IAF contract for 70 HTT-40 aircraft.

HAL is collaborating closely with Honeywell to support the export potential of the HTT-40.

HAL and Honeywell are looking into other areas such as 1MW Turbo Generators and the manufacturing, repair, and overhaul of TPE 331-10GP / 12JR engines for Dornier variants.

At around 9.29 AM, Hindustan Aeronautics was trading at Rs1,944.90 up by Rs6.45 or 0.33% from its previous closing of Rs1,938.45 on the BSE. The scrip opened at Rs1,960 and touched intraday high and low of Rs1,968.50 and Rs1,942.85 respectively.