Pratt & Whitney Announces Price Increase for PurePower® Engine, Validates Exceptional Performance
Pratt & Whitney is raising list prices of its fuel-efficient PurePower Geared Turbofan™ (GTF) engine across the product line to reflect the significant value these engines are expected to provide customers following entry into service. The new pricing is scheduled to go into effect in 2015. Pratt & Whitney is a division of United Technologies Corp. (NYSE:UTX).
Pratt & Whitney continues to achieve impressive test results on the PurePower engine family, which has now successfully completed more than 15,000 hours and 30,000 cycles of testing. The GTF engine family has met or exceeded all technical expectations and customer commitments. Demand for the PurePower Geared Turbofan™ engine is very strong with more than 6,300 orders, including options, to date with 60 customers from 30 countries.
"We are more confident than ever that the PurePower engine is the most fuel efficient engine in its category. Airlines already see the benefits of our technology, which will save millions of dollars in fuel expenses and maintenance costs year after year," said Greg Gernhardt, president, Pratt & Whitney Commercial Engines. "As a result of the exceptional customer demand and great test results on our PurePower engine, we are implementing increases to the engine pricing across our product range."
The PurePower GTF engine's exceptional performance has enabled Pratt & Whitney to offer an increased thrust rating for the A321neo aircraft for high-altitude airport operation, as well as the PurePower Advantage™ upgrade that will further reduce fuel consumption for the PW1100G-JM engine by two percent relative to the entry into service commitment.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. United Technologies Corp., based in Hartford, Connecticut, provides high technology products and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC.
This press release contains forward-looking statements concerning the anticipated performance of new products and anticipated future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in levels of demand in the aerospace industry, in levels of air travel, and in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the companies' Securities and Exchange Commission filings.