EAST HARTFORD, Conn., July 27 /PRNewswire-FirstCall/ -- Pratt & Whitney
and its partner companies, International Aero Engines (IAE) and Engine
Alliance (EA), announced several new engine and service agreements last
week at the Farnborough International Airshow outside London, England. The
announcements, which totaled nearly $2.5 billion, mean nearly $1.5 billion
in new business for Pratt & Whitney Commercial Engines, including its share
of the IAE and EA new customer agreements. Pratt & Whitney is a United
Technologies Corp. (NYSE: UTX) company.
"The Farnborough International Airshow was a huge success for Pratt &
Whitney's Commercial Engines business," said Steve Finger, Pratt & Whitney
president. "The new business we announced reflects our commitment to listen
to our customers and to make dependable engines. In addition to the many
exciting new engine deals, we also saw great customer interest in our
Global Materials Solutions business, our growing portfolio of engine
overhaul and line maintenance service capabilities, and the Geared Turbofan
engine we're developing for the next generation single-aisle aircraft."
Pratt & Whitney's commercial engine news from Farnborough includes:
* Pratt & Whitney Commercial Engines won an order from Kingfisher Airlines
for 10 PW4000-100" engines plus one spare with an option for 10
additional engines for the airline's new fleet of A330 aircraft. The
transaction, including an exclusive long-term maintenance agreement, is
valued at more than $300 million with an additional $200 million if all
options are exercised.
* Pratt & Whitney was selected to power Cathay Pacific's fleet of Boeing
747-400ERF freighters. Pratt & Whitney will deliver 24 PW4062A
installation engines and three spare engines with a value of more than
$300 million at list prices.
* Orenburg Airlines awarded Pratt & Whitney a five-year, exclusive
Maintenance Service Agreement (MSA) for CFM maintenance on up to five
Boeing 737 aircraft. The estimated value of this award is $10 million.
* Pratt & Whitney Global Service Partners announced it will now offer
EcoPower(SM) engine wash services at Schiphol Airport in Amsterdam with
Martinair as its European launch customer. EcoPower can reduce fuel
burn by as much as 1 percent and increase engine EGT (exhaust gas
temperature) margin by as much as 15 degrees C on all commercial engine
types.
* IAE announced Wizz Air had selected the V2500 Select to power up to 32
Airbus A320-family aircraft. The order is made up of 20 firm and 12
options and if all the options are realized, the combined engine order
and aftermarket agreement will be worth approximately $1 billion to
IAE. Pratt & Whitney is a majority shareholder in the IAE consortium.
* The EA announced UPS had selected the GP7200 to power its fleet of
Airbus A380 freighter aircraft. The engine selection follows UPS' 10
firm Airbus A380 aircraft orders and will include 40 engines plus four
spares. The value of the order was not disclosed. Aircraft deliveries
are scheduled to begin in 2009.
* Pratt & Whitney announced the formation of strategic relationships with
MTU Aero Engines, Avio and Volvo Aero for continued development of key
Geared Turbofan engine technologies. The Pratt & Whitney Geared
Turbofan engine represents a step-change in commercial engine
performance for single-aisle aircraft, with up to a 12 percent
improvement in fuel efficiency over today's engines and a 30-decibel
noise reduction over stage III requirements.
* Pratt & Whitney Global Material Solutions for the first time displayed
newly manufactured CFM56-3 engine castings at the show. The castings
included the first to fourth stage LPT blades, LPT first Vane Cluster,
HPT first blade, HPT first vane assembly and HPT shroud. Certification
and first customer deliveries of these parts are scheduled for early
2007.
* IAE announced Indonesian low-cost carrier Lion Air has signed a
long-term aftermarket agreement. The agreement is valued at $35 million
and will cover Lion Air's fleet of five Boeing MD-90s.
* IAE announced Vietnam Airlines had selected IAE's V2500 engines to power
10 Airbus A321 aircraft in a deal valued at more than $170 million.
"This is an exciting time to be at Pratt & Whitney, and an exciting
time to be in the commercial engine business," Finger told reporters at the
airshow. "We are the world's only provider of OEMRO(TM) engine solutions,
with a full range of engines and services for our products and competitors'
products in every segment of the industry."
At Farnborough, Finger said, it was more evident than ever that, "In
aerospace, the Pratt & Whitney Eagle is everywhere."
Pratt & Whitney is a world leader in the design, manufacture and
service of aircraft engines, space propulsion systems and industrial gas
turbines. United Technologies provides high-technology products and
services to the 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, or jennifer.arsenault@pw.utc.com
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