Benzinga | Jun 18, 2021 09:01AM EDT

Palantir Technologies Bags One Year $18.4M FAA's Aviation Safety Transformation Contract

* Palantir Technologies Inc (NYSE:PLTR) won a one-year $18.4 million Federal Aviation Administration (FAA) contract to provide a data analytics tool to drive the agency's aviation safety modernization objectives.

* The contract has two additional option years.

* Palantir Foundry will support the FAA's aircraft certification and continued operational safety activities, including the ongoing monitoring of the Boeing Co's (NYSE:BA) 737 MAX fleet's return to service.

* Price action: PLTR shares traded lower by 0.25% at $25.39 in the premarket session on the last check Friday.