NASA Faces Setback As RTX's Collins Aerospace Backs Out Of Spacesuit Deal
Portfolio Pulse from Vandana Singh
Collins Aerospace, a subsidiary of RTX Corp (NYSE:RTX), is in discussions with NASA to withdraw from its contract to develop new spacesuits for the ISS. This marks a setback for NASA, which has faced issues with its aging spacesuits. Collins' withdrawal could leave future suit development to Axiom Space.
June 26, 2024 | 12:11 pm
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Collins Aerospace, a subsidiary of RTX Corp, is negotiating with NASA to withdraw from its spacesuit development contract. This could impact RTX's stock as the contract was part of a $3.5 billion agreement.
The withdrawal from a significant NASA contract could negatively impact RTX's stock in the short term due to the loss of a high-profile project and potential revenue.
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