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Sikorsky commercial helicopter outlook worse than expected-Lockheed
January 26, 2016 / 5:11 PM / 2 years ago

Sikorsky commercial helicopter outlook worse than expected-Lockheed

WASHINGTON, Jan 26 (Reuters) - Lockheed Martin Corp on Tuesday said the outlook for commercial helicopter sales for the Sikorsky Aircraft unit was about half the level it projected when it announced plans to buy the unit last July, due to the sustained drop in oil prices.

Chief Financial Officer Bruce Tanner said Lockheed initially expected Sikorsky’s commercial helicopter sales to fall to around $750 million for a peak of $1.5 billion in 2014. But the drop in oil prices had dragged the expected sales level to around half that level, or around $375 million, he said.

Sikorsky did see good prospects for international helicopter sales in areas such as search and rescue and border patrol, but that would not translate into firm orders until after 2016 or 2017, Tanner said. (Reporting by Andrea Shalal; Editing by Chizu Nomiyama)

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