IAE Launches Pure-V™ Engine Designation
EAST HARTFORD, Conn., Monday, November 18, 2013
IAE International Aero Engines AG has launched its new Pure-V™-1 designation for V2500® engines maintained to IAE's high build standards. A Pure-V designated engine contains IAE-approved parts and repairs throughout the entire engine.
"Pure-V was created to provide a designation for the large percentage of our customers' engines that have been maintained with original IAE parts and to recognize the superior value of these engines," said IAE President and CEO Jon Beatty.
"The V2500 engine has a reputation for its durability, reliability and world-class fuel burn performance. This is due to IAE's philosophy of continuous improvement and to customers who maintain their engines to the highest standards," said Beatty. "IAE's records have shown that engines maintained to these standards, for example those covered by a Fleet Hour Agreement (FHA), consume less fuel, have fewer unscheduled removals and have up to 20 percent longer time-on-wing between shop visits."
IAE's Pure-V program rewards operators who maintain OEM build standard engines with extended warranties on parts. IAE can also provide a customized conversion kit for engines that do not currently meet the Pure-V standard.
The Pure-V program helps improve the marketability of engines through a database that identifies all Pure-V engines. The database tracks information from IAE maintenance centers servicing IAE FHAs and from facilities approved by IAE to verify an engine's Pure-V status.
IAE's Pure-V engine program is designed to help operators and lessors enhance residual values for their V2500 engines.
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 V2500® engines have been delivered and more than 1,600 more engines are on order with close to 200 customers around the world.
This release includes "forward looking statements" concerning anticipated business opportunities that are subject to risks and uncertainties, including with regard to the programs described in this release. Risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the effect of economic conditions in the markets in which we operate, including financial market conditions, and fluctuation in interest rates, commodity prices and foreign currency exchange rates; levels of end market demand in the aerospace industry, including levels of demand for the new aircraft described in this release; levels of air travel; financial difficulties of commercial airlines; the financial condition of suppliers; and challenges in the design, development, production and support of advanced technologies and new products and services. 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.
1 Pure-V™ is a trademark of United Technologies Corporation – Pratt & Whitney and is licensed to IAE International Aero Engines AG.