Air Austral Finalizes Purchase and Fleet Management Agreements with Engine Alliance

LE BOURGET – June 21, 2011 – Air Austral and the Engine Alliance have finalized agreements for the purchase of GP7200 engines and a 10-year Fleet Management Agreement to cover the maintenance, repair and overhaul of the engines that will power Air Austral’s two A380 aircraft. The total value of the deal is worth more than $240M (USD) at list prices.

Air Austral is based in Saint Denis, La Reunion. The airline flies to nearby Indian Ocean islands as well as locations in France, Australia, South Africa and Thailand. Air Austral plans to operate its A380 aircraft in a single, economy class configuration on its high-volume route from La Reunion to Paris, France, through a subsidiary airline working under a “low-cost” model. “The Engine Alliance is delighted to be part of Air Austral’s growth and success,” Engine Alliance President Mary Ellen Jones said. “We’re looking forward to helping them maximize the value of their A380s with our GP7200 engines.”

“I’m confident the GP7200 engines and maintenance plan we’ve selected will provide the most reliable and economical power available for our A380s,” President Gérard Ethève said.

The GP7200 engine is the leading engine on the Airbus A380 aircraft. It has been selected to power 56% of all A380s on order with engine selections.

There are 22 GP7200-powered A380s in service and 102 more on order. In addition to Air Austral, Engine Alliance customers include Air France, Emirates, Korean Air and Etihad Airways.

The Engine Alliance is a 50/50 joint venture of General Electric (NYSE:GE) and Pratt & Whitney, a unit of United Technologies Corp. (NYSE:UTX). The GP7200 is the result of innovations to the combined technologies of its member companies’ most successful wide-body engines: the GE90 and the PW4000. The GP7200 utilizes the lessons learned from more than 35 million flight hours of successful operation with these legacy engines and incorporates new technology to produce the quietest, most fuel efficient engine for the A380. The GP7200 is certified at 76,500 pounds (340 kN) of thrust and has the capability to produce more than 81,500 pounds (363 kN). Its emissions are well below current and anticipated regulations.