"We believe it is not going to have a significant impact on the testing schedule and we're working now with Bombardier on a plan to resume testing here in the next few weeks, we hope,"
"We believe we have an understanding of what occurred and, if we're correct, we think it can be rapidly fixed," Hayes said.
Hayes said a preliminary analysis of the engine confirms the incident wasn't related to the engine's design, which features a geared fan that drives the aircraft's fuel-savings advantage.
"We think it was something much more simple than that and, again, it gives us confidence this is not going to be a significant financial exposure for UTC."
One of the CSeries' two engines that malfunctioned was sent to
UTC has invested more than
"We're listening to what they're saying and it's a positive sign, definitely," he said in an interview.
Bombardier hopes to disclose in the coming days more details about the engine incident and timing for a return to flight testing. In the meantime, the remaining three test aircraft are doing ground testing.
The aircraft have flown nearly 330 hours of testing, well short of the 2,400 required to receive
"I can understand that people would ask questions when there is an event like this...but we feel confident that we'll find the problem rapidly with
He added that has "absolute confidence" in the engine that was certified by
Bombardier's shares were hit following the incident and some analysts have said they expected them to remain under pressure until the cause of the engine problem is determined.
Analysts have said the latest CSeries setback has aggravated concerns about the slow flight test program and calls into question its development program.
Meanwhile, Hayes told the
Only 16 per cent of the world's population have ever flown on an aircraft, but demand is expected to be sparked as the middle class surges over the next two decades to include two-thirds of the population. He said about 30,000 new aircraft will be purchase in the next 20 years.
Hayes also noted that UTC will take a nearly
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