MTU CFO: will talk to Pratt & Whitney about compensation for 700 million euro cash flow hit

MTU Aero Engines will talk to U.S. partner Pratt & Whitney about compensation for an estimated 700 million euro hit to its cash flow caused by problems with its partner's geared turbofan engines, the German aircraft engine maker's chief financial officer said on Wednesday. The problems would not markedly affect the current year but will result in a hit to cash flow of about 700 million euros ($751.45 million), which will be felt mainly in 2024 and 2025, with some spillover in 2026, according to CFO Peter Kameritsch. Kameritsch added that MTU, which issued a profit warning on Monday that sent its shares sharply lower, had launched an internal programme to streamline capital expenditures and other costs.