Pratt & Whitney Share of Sichuan Airlines Order Potentially Valued at $100 Million
Sichuan Airlines selected International Aero Engines (IAE) V2500 engines to power its latest fleet of Airbus A320s currently on order. The agreement includes V2500 SelectOne™ engines for 12 firm aircraft, scheduled to be delivered between 2011 and 2015. The potential value of the order to Pratt & Whitney is approximately $100 million. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company and a major participant in IAE.
The deal includes a long-term IAE Aftermarket Services Agreement with coverage that includes overhaul, engine health monitoring and on-wing coverage.
In Greater China, the V2500 powers over 250 aircraft in service, and there are more than 150 IAE-powered aircraft currently on order in the region. The V2500 was also the launch engine for the Airbus Final Assembly Line China (FALC) in Tianjin in 2009, where nine of the first 10 aircraft produced were powered by IAE.
The new IAE-powered aircraft are the latest V2500 SelectOne™ build standard offering benefits of reduced CO2 emissions and noise levels, as well as up to one percent additional fuel burn, bringing the V2500's total advantage over competing products to up to four percent.
The V2500 is available in seven different thrust settings, from 22,000 to 33,000 lbs., 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 comprised of Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corporation and MTU Aero Engines. Nearly 6,000 V2500s in service or on firm order with more than 190 customers around the world.
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, including with regard to the contract described in this release. 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.