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PRESS RELEASE

IAE Ramp Up Driven by Reliability, Backed by V-Services

PARIS AIR SHOW, Tuesday, June 18, 2013

IAE International Aero Engines AG is building more V2500 engines than ever and continues to break production records as it ramps up to meet demand. To date, more than 5,700 engines have been delivered.

IAE is on track to build more than 500 V2500 engines in 2013 after setting a new milestone in 2012 by delivering over 460 engines – the highest number of annual engine deliveries in the program's history. Overall, IAE expects to sell another 700 V2500 engines for the A320 family. It is the preferred engine for A321 operators worldwide with the largest number of engines delivered and on order.

"As Airbus continues to increase the rate of A321s, IAE expects to continue to do well in the narrowbody segment," said IAE President Jon Beatty. "In addition to providing a superior fuel burn advantage over the competition, it offers improved time on-wing (TOW) and the lowest noise and emissions."

The V2500 SelectOne™ build standard delivers class-leading fuel burn performance, along with a corresponding reduction in CO2 emissions. It improves TOW and demonstrates compliance with all applicable CAEP emissions standards. The SelectOne™, which is the current production standard, has accumulated over 10 million in-service hours. V2500 SelectTwo™ will be rolled out in the first quarter of 2014.

As a result of IAE's strong philosophy of continuous improvement, the V2500 also has a long record of world-class, reliable operation around the world. The engine was introduced into commercial operation over 24 years ago and many of the first engines are still in service today. Today, due to increased demand and the resulting ramp up in production, the average age of the V2500-A5 fleet is just under seven years. While 60 percent of the current fleet is managed under IAE V-ServicesSM Fleet Hour Agreement, approximately 50 percent of the fleet has not yet had a shop visit.

To help care for the growing number of V2500s in operation, IAE's V-ServicesSM portfolio of comprehensive aftermarket services provides flexible engine maintenance/support solutions. The benefits to the customer include:

  • • Predictable maintenance cost
  • • Optimized engine performance including reliability and fuel burn
  • • Improved marketability
  • • Increased residual value

IAE's goal is to increase the percentage of the fleet under service contracts so more customers experience these benefits.

On March 11, 2013, IAE celebrated its 30 year anniversary and the success of the V2500 engine. Today, IAE is entering a new and exciting era with IAE and its party companies positioned to best serve all A320 customers by allowing more flexible offerings to the narrowbody segment.

New Headquarters Location

IAE recently moved its headquarters to 400 Main Street, East Hartford, Conn. The move co-locates the Sales, Marketing and Customer Support organizations of IAE and Pratt & Whitney Commercial Engines. By integrating IAE's V2500 and Pratt & Whitney Commercial Engines' A320neo and legacy business into a single and stronger channel, the two companies are able to give customers one point of contact and offer the best new engine technology.

About IAE: IAE is a multinational aero engine consortium whose shareholders are comprised of Pratt & Whitney (NYSE: UTX), Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines. To date, more than 5,700 engines have been delivered and nearly 1,600 more engines are on order with close to 200 customers around the world.

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