Pratt & Whitney Wins US$270 Million Order for V2500 Engines from Shenzhen Airlines
FARNBOROUGH AIR SHOW – July 2008 – China’s Shenzhen Airlines has selected the International Aero Engines V2500 to power 28 Airbus A320 family aircraft and back the engine order with a long-term V2500Select® agreement. The combined engine and aftermarket deal, which represents the first V2500 order from Shenzhen, is valued at more than $270 million to Pratt & Whitney, if all options are exercised. Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) company, is a major participant in International Aero Engines (IAE).
Shenzhen Airlines currently operates a fleet of 19 Airbus A320 family aircraft with a further 14 on firm order. The aircraft will have the SelectOneTM build standard, with delivery beginning in June 2009.
The V2500-A5 is available in seven different thrust settings ranging from 22,000 lbs. to 33,000 lbs. to power the Airbus A319, A320 and A321 family of aircraft, as well as the A319 Corporate Jet. More than 5,000 V2500 engines are in service or on firm order. V2500Select® is a tailored package combining aftermarket support and the V2500 SelectOne™ engine upgrade, providing operators with reduced operating costs and a predictable budget.
IAE is a multinational aero engine consortium whose shareholders comprise Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corporation and MTU Aero Engines. More than 1,300 V2500-powered aircraft have been delivered and the worldwide fleet has accumulated over 40 million flying hours.
Pratt & Whitney has over 16,000 aircraft engines installed with hundreds of airlines around the world. Additionally, Pratt & Whitney is a leading partner in two joint venture companies that manufacture commercial aircraft engines: International Aero Engines, which makes the V2500 for the Airbus A320 family of aircraft, and the Engine Alliance, whose GP7200 engine is FAR 33 certified for the new Airbus A380.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.
This release includes “forward looking statements” concerning anticipated business opportunities that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include changes in the health of the global economy and the aerospace industry. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC’s 10-K, 10-Q and other reports filed with the SEC.
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