SOURCE: IAE International Aero Engines AG

IAE International Aero Engines AG

February 15, 2012 13:12 ET

IAE Wins Order to Power Six TransAsia A321s

Part of a Larger Transaction With Pratt & Whitney

GLASTONBURY, CT--(Marketwire - Feb 15, 2012) - SINGAPORE AIR SHOW -- TransAsia Airways has selected International Aero Engines' V2500 engines to power six A321 standard aircraft on firm order with Airbus. As a part of a larger package, the transaction also includes Pratt & Whitney PW1100G-JM engines to power six firm and six option A321neo aircraft.

"We are impressed with the operational and environmental benefits of the PurePower ® engines," said Vincent Lin, CEO of TransAsia Airways. "For years we have counted on IAE engines to power our fleet, and these orders reaffirm our confidence in IAE and Pratt & Whitney."

"The relationships we maintain within IAE enable us to work closely with our partners and provide multiple solutions and options for the A320 series," said IAE Executive Vice President of Customer Business Jim Guiliano. "TransAsia Airways will receive the latest iteration of the V2500 -- the SelectTwo™ that was introduced last year. IAE is the global leader in powering the A321 aircraft."

V2500 SelectTwo™ provides up to 0.6% in fuel burn savings compared to the V2500 SelectOne™ engine, which already has best in class fuel economy.

IAE has more than 80% of the market share for the A321 aircraft currently on backlog, primarily due to its superior fuel burn. Total aircraft on order is approaching 300.

TransAsia Airways currently has eight A320 family aircraft in service -- three A320s and five A321s powered by V2500-A5 engines, which have logged in more than 380,000 hours. Their first V-powered aircraft entered into service in 1995.

"We are truly honored that TransAsia Airways selected IAE and Pratt & Whitney to power its new A321 aircraft," said Todd Kallman, Pratt & Whitney Commercial Engines and Global Services president. "We look forward to growing our relationship even further with the delivery and service of these new dependable engines."

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. Through 2011, over 4,900 V2500 engines have been delivered and nearly 2,000 more engines on order with close to 200 customers around the world.