Pratt & Whitney Share of Gulf Air Order Valued at $60 Million
PARIS AIR SHOW, Monday, June 20, 2011
Gulf Air, Bahrain's national carrier, has selected IAE International Aero Engines to power six Airbus A321 aircraft. The value to Pratt & Whitney of the order and aftermarket agreement is approximately $60 million. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company and a major participant in IAE.
With this order, Gulf Air becomes a launch customer for IAE's new V2500 SelectTwo™ engine. These extended-range Airbus platforms will be delivered in 2012, marking Gulf Air's initial introduction of V2500 engines into its fleet.
IAE is a multinational aero engine consortium comprised of Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corp. and MTU Aero Engines. Nearly 6,500 V2500 engines are in service or on firm order with the worldwide fleet accumulating more than 85 million flying hours. Pratt & Whitney is a proud member of the IAE consortium, which has provided outstanding engines and support services to its nearly 200 global customers for more than 25 years. Pratt & Whitney recently reaffirmed its commitment to IAE and its product line, agreeing to extend IAE's collaboration agreement to 2045.
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.
The V2500 SelectOneTM build standard delivers an additional 1 percent fuel burn advantage, along with a corresponding reduction in CO2 emissions, and it improves time on-wing by up to 20 percent, compared to a standard V2500-A5. It is compliant with the most stringent CAEP/6 NOx standards. It entered service in October 2008. An upgrade option for the V2500 SelectOne™, SelectTwo is projected to provide 0.58 percent fuel burn savings compared to the V2500 SelectOne engine for a 500 nautical mile A320 mission. SelectTwo is comprised of a software upgrade for the Electronic Engine Control (EEC) as well as a new data entry plug (DEP).
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. Please visit www.utcaero.com for news from Pratt & Whitney and United Technologies at the Paris Air Show 2011.
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.
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