LONDON, FARNBOROUGH AIRSHOW, July 18 /PRNewswire-FirstCall/ -- Pratt &
Whitney, a United Technologies Corp. (NYSE: UTX) company, was selected by
Kingfisher Airlines of India to power its new fleet of Airbus A330
aircraft.
The deal includes 10 PW4000-100" installed engines, one spare and an
option for an additional 10 engines. Pratt & Whitney also was awarded a
long-term exclusive fleet management program (FMP) to overhaul and repair
Kingfisher's PW4000 engines. The total transaction is valued at $300
million, plus an additional $200 million if all options are exercised.
"After a very detailed analysis of all the engine offers for the A330,
we decided that Pratt & Whitney gave us the best total solution and met all
our technical requirements," said Dr. Vijay Mallya, chairman and chief
executive officer, Kingfisher Airlines Limited. "Kingfisher has chosen
Pratt & Whitney to power our fleet of A320/A319s, ATR72s and A330s because
of their ability to support our airline's vision to consistently deliver a
safe, value-based and enjoyable travel experience to all our guests."
Kingfisher Airlines, India's newest and one of the fastest growing
airlines, commenced operations in May 2005 with a new fleet of
V2500-powered A320 and A319 aircraft. Today the airline operates 14
aircraft connecting 17 key business and leisure destinations with more than
86 daily flights across India. Deliveries of the new A330s are scheduled to
begin in the fall of 2007.
"We are delighted that Kingfisher Airlines has chosen Pratt & Whitney
to power their A330s with the PW4168A," said Steve Heath, Pratt & Whitney's
president of commercial engines. "Pratt & Whitney is proud to do business
with Kingfisher Airlines, and we are committed to exceeding their
expectations. The combined new engine and FMP service agreement will
provide Kingfisher with the most value by leveraging both our OEM and MRO
expertise."
The PW4000-100" engine -- model number PW4168A -- was designed
specifically for the Airbus A330 aircraft. It provides exceptional
reliability, competitive fuel performance and excellent environmental
characteristics. Today, more than 2,700 PW4000 family engines are in
service with 90 million hours of cumulative service experience.
Pratt & Whitney has over 17,000 aircraft engines in service with
hundreds of airlines throughout the world. Additionally, Pratt & Whitney is
a leading partner in two joint venture companies that manufacture
commercial aircraft engines: the International Aero Engines (IAE), which
makes the V2500 for the Airbus A320 family of aircraft, and the Engine
Alliance (EA), whose GP7200 engine is FAR 33 certified on 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., USA, is a
diversified company providing high technology products and services to the
global aerospace and building industries.
This release includes "forward looking statements" concerning expected
revenue and other matters 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 the
health of the global economy; strength of end market demand in the
commercial aerospace industry; fluctuation in commodity prices, interest
rates, and foreign currency exchange rates. For information identifying
other important economic, political, regulatory, legal, technological,
competitive and other uncertainties, see UTC's SEC filings as submitted
from time to time, including but not limited to, the information included
in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk
Factors," "Management's Discussion and Analysis of Financial Condition and
Results of Operations" and "Cautionary Note Concerning Factors that May
Affect Future Results," as well as the information included in UTC's
Current Reports on Form 8-K.
Contact: Jennifer Arsenault
(860) 565-9600
jennifer.arsenault@pw.utc.com
SOURCE Pratt & Whitney
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Related links:
http://www.pratt-whitney.com/
CONTACT:
Jennifer Arsenault of Pratt & Whitney,
+1-860-565-9600, jennifer.arsenault@pw.utc.com
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