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PRESS RELEASE

Air Serbia Signs V-Services(SM) Agreement for V2500® Engine Fleet

PARIS AIR SHOW, Paris, Thursday, June 18, 2015

Air Serbia, the national airline of the Republic of Serbia, has entered into a V-Services Fixed Price Agreement to maintain its 21 V2500 engines. The V2500 engine is offered through IAE International Aero Engines AG, an aero engine consortium led by Pratt & Whitney (NYSE: UTX), in collaboration with Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines.

"The maintenance of our aircraft engines is a top priority for us, as it helps to ensure safety for all of our passengers," Dane Kondic, chief executive officer of Air Serbia. "Air Serbia plays a fundamental role in the development of Serbia's travel and tourism industry and it is important for us to be leaders in safe and comfortable air travel. Efficient and effective maintenance is a key component of our success."

"Air Serbia is a burgeoning leader in the European aviation industry and we are excited to support their continued success with this new services agreement," said Greg Gernhardt, president, Pratt & Whitney Commercial Engines. "Supporting an aircraft fleet under a Pratt & Whitney program provides operators with predictable maintenance costs and helps increase the value of the engine to our customers."

Air Serbia serves more than 40 Euro-Mediterranean destinations directly from its hub at Belgrade's Nikola Tesla International Airport. Air Serbia also offers long-haul and international destinations in Asia, Australia and the Americas through its codeshare partners and its shareholding equity partner, Etihad Airways, the national airline of the United Arab Emirates.

Air Serbia was launched as the national airline of the Republic of Serbia on October 26, 2013. It serves more than 40 destinations in Europe, Mediterranean and Middle East directly from its hub at Belgrade's Nikola Tesla International Airport with passenger and cargo services. The airline also offers long-haul and international destinations in Asia, Australia and Americas through its code-share partners and its equity partner, Etihad Airways that holds a 49 percent share. The airline currently operates a fleet of 10 narrow-bodied and 6 turboprop aircraft.

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