According to the Canadian Press, the annual statement from United Technologies Corp., paints a sobering picture of the CH-148 Cyclone program by reading, "If these efforts are unsuccessful and the Canadian government requires the delivery of only final configuration aircraft under current contractual requirements, no deliveries are expected to occur until 2015 at the earliest,"
The report, filed last week with the New York Stock Exchange, noted protracted negotiations are taking place with the Department of Public Works to "resolve open disputes," including the delivery of interim helicopters.
The contract dispute and development issues with the program have put the Cyclones in a precarious position and "provide substantial uncertainty and risk in regards to the future profitability of the overall program," the report continues.
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