Pratt & Whitney Wins US$330 Million V2500 Engine Deal from Tiger Airways

EAST HARTFORD, Conn.-Singapore-based Tiger Airways has selected the International Aero Engines V2500 to power up to 50 new Airbus A320-family jets. The order for engines to power 30 firm and 20 option aircraft is valued at more than US$330 million for Pratt & Whitney if all options are exercised. The engines will be backed by a long-term V2500SelectSM service agreement. Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) company, is a major partner in International Aero Engines.

“Tiger Airways has quickly become one of Asia’s top low-cost carriers and we are proud that the V2500 has played a part in the airline’s strong growth,” said Todd Kallman, president of Pratt & Whitney Commercial Engines and IAE board member. “Tiger Airways is demonstrating their continued confidence in the V2500 with this order for additional engines.”

The 22,000-33,000lb of thrust V2500-A5 is available in seven different thrust settings to power the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet.

IAE is a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (NYSE: UTX), Rolls-Royce (RR.L.), the Japanese Aero Engines Corporation and MTU Aero Engines. More than 1,400 V2500-powered aircraft have been delivered and the worldwide fleet has accumulated over 50 million flying hours.