German-Based MTU Secures Over $1 Bln in New Orders at Paris Airshow

Paris — German-based aircraft engine manufacturer, MTU Aero Engines AG, said on Friday that it has received orders worth over $1 billion at the Paris Air Show.

The majority of the new orders for the company included the geared turbofan or GTF engine.

Airline companies like United Airlines will equip 120 A321neo and A321XLR aircraft with GTF engines, the company said.

Qantas has chosen nine PW1500G-powered A220s.

Riyadh Air has decided to equip its 39 Boeing 787-9 Dreamliners with GEnx engines, while Air India's ten Boeing 777Xs will be powered by GE9X engines.

MTU said it has a 15% to 18% share in the geared turbofan engine programme and supplies key components like high-speed low-pressure turbines and various stages of the high-pressure compressor.

It is also responsible for the turbine centre frame of the Dreamliner's GEnx engine and has a 6.5% share in the GE9X engine for the Boeing 777X.

Currently, shares of MTU are trading at €234.70 ($255.18), up 0.56% or €1.30 on the Xetra exchange.

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