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PRESS RELEASE

Air New Zealand Extends V2500® Engine Maintenance Agreement

PARIS AIR SHOW, Paris, Tuesday, June 16, 2015

Air New Zealand has signed a Maintenance Services Agreement extension with the Pratt & Whitney Christchurch Engine Centre to maintain its fleet of 58 V2500® engines for an additional five years supporting the airline's Airbus A320 operations. The V2500 engine is offered through IAE International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (NYSE: UTX), Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines.

This announcement follows Air New Zealand's recent selection of Pratt & Whitney's PW1100G-JM engines for 13 firm A320neo family aircraft and provision of fleet management support services for up to 16 years.

Air New Zealand's Chief Operating Officer Bruce Parton says, "Air New Zealand has enjoyed a long and successful relationship with Pratt & Whitney. Over the past four years in particular we've seen great benefits from maintaining our V2500 engines through Pratt & Whitney at the Christchurch Engine Centre. Maintenance agreements such as this are important to our success as they help make our maintenance cost predictable."

"Return customers like Air New Zealand are a testament to the good work that our teams do to keep the V2500 engines in good health and performing to our superior standards," said Matthew Bromberg, president, Pratt & Whitney Aftermarket. "It is clear that our customers recognize the value we provide as an OEM and feel our service contract is worth extending."

Air New Zealand is a member of Star Alliance™. The Star Alliance network was established in 1997 as the first truly global airline alliance to offer worldwide reach, recognition and seamless service to the international traveler. Overall, the Star Alliance network offers more than 18,000 daily flights to 1,269 airports in 193 countries. Air New Zealand is an international and domestic airline group which provides air passenger and cargo transport services within New Zealand, as well as to and from Australia, the Pacific, Asia, North America and the United Kingdom. It was named the 2015 Airline of the Year by AirRatings.com.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units.

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 United Technologies Corp.'s Securities and Exchange Commission filings.