Pratt & Whitney Share of Turkish Airlines Order Potentially Valued at $165 Million
Turkish Airlines (THY), the national carrier of Turkey, has selected International Aero Engines (IAE) V2500 SelectOne™ engines for 20 firm and 10 option A320 family aircraft, scheduled to be delivered between 2011 and 2013. The potential value of the order to Pratt & Whitney is approximately $165 million. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company and a major participant in IAE.
The airline's firm order includes six A319s and 14 A321s. THY currently operates a fleet of 45 IAE-powered aircraft. The airline has been a V2500 operator since 2004, and this is the third time they have selected IAE.
The V2500 SelectOne™ build standard delivers an additional 1 percent fuel burn advantage, along with a corresponding reduction in CO2 emissions. It improves time-on-wing by up to 20 percent, and is compliant with the most stringent CAEP/6 NOx standards. It entered service on schedule in October 2008.
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.