Business News

Pratt & Whitney Wins US$116 Million Order for V2500 Engines from Hainan Airlines

2008-07-16 07:06:00

    FARNBOROUGH, England, July 16 /EMWNews-FirstCall/ -- FARNBOROUGH AIR

SHOW -- China-based Hainan Airlines has selected the International Aero

Engines V2500 to power 13 Airbus A320 aircraft, backed by a long-term,

V2500Select(SM) aftermarket agreement. The combined engine and aftermarket

deal is valued at more than $116 million to Pratt & Whitney, if all options

are exercised. Pratt & Whitney, a United Technologies Corp. (NYSE: UTX)

company, is a major participant in International Aero Engines (IAE).

    Hainan Airlines placed an initial order to power a total fleet of 20

A319 aircraft. The airline took delivery of its first V2500-powered

aircraft in June.

    The V2500-A5 is available in seven different thrust settings ranging

from 22,000 lbs. to 33,000 lbs. to power the Airbus A319, A320 and A321

family of aircraft, as well as the A319 Corporate Jet. More than 5,000

V2500 engines are in service or on firm order. V2500Select(R) is a tailored

package combining aftermarket support and the V2500 SelectOne(TM) engine

upgrade, providing operators with reduced operating costs and a predictable


    In China, the V2500 powers 195 aircraft in service and during the past

18 months has been selected on over 160 additional A320-family aircraft

placed on firm order in the region. IAE is a multinational aero engine

consortium whose shareholders comprise Pratt & Whitney, Rolls-Royce, the

Japanese Aero Engines Corporation and MTU Aero Engines. More than 1,300

V2500-powered aircraft have been delivered and the worldwide fleet has

accumulated over 40 million flying hours.

    Pratt & Whitney has over 16,000 aircraft engines installed with

hundreds of airlines around the world. Additionally, Pratt & Whitney is a

leading partner in two joint venture companies that manufacture commercial

aircraft engines: International Aero Engines, which makes the V2500 for the

Airbus A320 family of aircraft, and the Engine Alliance, whose GP7200

engine is FAR 33 certified for the new Airbus A380.

    Pratt & Whitney is a world leader in the design, manufacture and

service of aircraft engines, space propulsion systems and industrial gas

turbines. United Technologies, based in Hartford, Conn., is a diversified

company providing high technology products and services to the global

aerospace and building industries.

    This release includes "forward looking statements" concerning

anticipated business opportunities that are subject to risks and

uncertainties. Important factors that could cause actual results to differ

materially from those anticipated or implied in forward looking statements

include changes in the health of the global economy and the aerospace

industry. 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.

Matthew Perra Jennifer Whitlow Pratt & Whitney Commercial Engines Pratt & Whitney Int'l Mobile: +1.860.595.6515 Int'l Mobile: +1.860.214.7502 [email protected] [email protected]

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