SOURCE: IAE International Aero Engines AG

IAE International Aero Engines AG

IAE International Aero Engines AG

June 20, 2011 10:28 ET

Gulf Air Selects IAE Power for A321 Aircraft

Marks Initial Order for New V2500 SelectTwo

PARIS--(Marketwire - Jun 20, 2011) - Gulf Air, the national carrier of Bahrain, has selected International Aero Engines AG to power six A321 aircraft, becoming a launch customer for IAE's new V2500 SelectTwo™ engine. These extended-range Airbus platforms will be delivered in 2012, marking Gulf Air's initial application of V2500 engines into its fleet.

"We are pleased to be selected to provide Gulf Air with not only their first V2500 power-plants, but as the first customer to order our new SelectTwo offering," said Ian Aitken, president of IAE. "I am confident they made the right decision based on performance, reliability and maintainability that the V2500 SelectTwo will provide for their fleet."

The value of the contract is approximately $180M.

"The competitive fleet hourly offering from IAE and fuel burn advantage were key characteristics that assured us that the V2500 was the right engine for us," explained Samer Majali, Chief Executive Officer of Gulf Air. "Superb technology and world-class reliability were also important factors in our decision."

He added that the qualities brought by SelectTwo will enable his airline to more easily focus on developing a profitable regional route structure and optimize its network.

IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney (NYSE: UTX), Rolls-Royce (LSE: RR), Japanese Aero Engines Corporation and MTU Aero Engines. There are more than 5,500 V2500s in service or on firm order with nearly 200 customers around the world.

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