Pratt & Whitney and International Lease Finance Corporation Finalize Agreement for PurePower® PW1100G Engines on Airbus A320neo Order
PARIS AIR SHOW, Monday, June 20, 2011
Pratt & Whitney and International Lease Finance Corporation signed a definitive agreement concerning engines for up to 100 Airbus A320neo family aircraft ordered by International Lease Finance Corporation (ILFC) as part of an order announced in early March. The agreement includes 120 firm PurePower PW1100G engines for 60 aircraft with deliveries which may occur as early as 2015. Pratt & Whitney is a division of United Technologies Corp. (NYSE:UTX).
"We're encouraged by the market traction of the PurePower geared turbofan engine as a result of its many economic and environmental benefits," said Henri Courpron, ILFC chief executive officer. "We are confident our customers will seek out this competitive advantage offered with the lower operating costs of the PW1100G engine."
As part of this agreement, each ILFC Airbus A320neo family aircraft will be powered by two PurePower PW1100G engines with benefits including double-digit reductions in fuel burn, environmental emissions, engine noise and operating costs when compared with today's engines.
"Pratt & Whitney is very pleased to sign this definitive agreement with ILFC," said David Hess, Pratt & Whitney president. "We are proud to supply ILFC and its customers the Pratt & Whitney PurePower dependable engine with proven performance benefits that reduce airline operating costs."
Pratt & Whitney has more than 1,200 PW1000G engines on order, including options. The PurePower engine uses an advanced gear system allowing the engine's fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core delivers double-digit improvements in fuel efficiency and environmental emissions as well as a 50 percent reduction in noise.
ILFC is the international market leader in the leasing and remarketing of commercial jet aircraft to airlines around the world. Through our employees' expertise and passion for aviation, ILFC delivers innovative customized fleet solutions that generate strong financial performance. ILFC currently owns and manages a fleet portfolio of over 1000 aircraft. www.ilfc.com
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 future business opportunities and other matters involving this engine 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 strength of end market demand in the aerospace industry; as well as company specific items including the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies including this engine, and new products including the engine discussed in this press release; and delays and disruption in delivery of materials and services from suppliers. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.
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