Pratt & Whitney Share of Jetstar Airways Order Potentially Valued in Excess of $1 Billion

SINGAPORE, Jan. 28 /PRNewswire-FirstCall/ -- Jetstar Airways, a subsidiary of Qantas Airways, has awarded International Aero Engines (IAE) an order for V2500 engines to power a new fleet of 50 Airbus A320-family aircraft, with the option to purchase V2500 engines for up to 40 more aircraft. The airline also signed a 15-year aftermarket services agreement with IAE covering these new engines, as well as V2500 engines installed on 44 aircraft the three Jetstar airlines currently operate. The value to Pratt & Whitney of the order and aftermarket agreement could exceed $1 billion if all options are exercised. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company and a major participant in IAE.

The agreement is for the latest V2500 SelectOne(TM) build standard. The aircraft will be distributed among the mainline Jetstar fleet and the airline's joint ventures with Qantas, Jetstar Pacific in Vietnam, and Jetstar Asia in Singapore.

The V2500 is available in seven different thrust settings, from 22,000 to 33,000 lbs., to power the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet.

The V2500 SelectOne(TM) build standard delivers an additional 1 percent fuel burn advantage, along with a corresponding reduction in CO2 emissions, and it improves time on-wing by up to 20 percent, compared to a standard V2500-A5. It is compliant with the most stringent CAEP/6 NOx standards. It entered service in October 2008.

SOURCE Pratt & Whitney