SOURCE: IAE International Aero Engines AG

IAE International Aero Engines AG

July 10, 2012 11:09 ET

Jetstar Selects V2500 Engines for 32 Aircraft

GLASTONBURY, CT--(Marketwire - Jul 10, 2012) -  FARNBOROUGH AIR SHOW -- International Aero Engines announced that Jetstar Airways, a wholly owned subsidiary of the Qantas Group, has selected IAE's V2500 engine to power a further 32 Airbus A320 family aircraft. 

This is the third time that the airline has selected IAE as its engine provider since an initial order in 2004. Its engines are currently fitted to all 74 of the Jetstar Group's A320s and A321s. New engine deliveries are scheduled to begin next year covered by an IAE V-Services(SM) Fleet Hour Agreement for new A320s originally ordered from Airbus in August 2011.

"The V2500 engine has proven itself to be a valuable part of our successful operations across Jetstar Group's Australia, New Zealand, Singapore and Vietnam-based operations," said Jetstar's Executive Manager of Engineering, Chris Snook.

"The reliability, fuel burn and environmental advantage of the V2500 engine helps Jetstar deliver consistently low fares to our customers.

"As we continue to grow our presence in Japan this year, IAE will play an important role in supporting the Jetstar Group's growth across the Asia Pacific," he added.  

"Jetstar is a leading group of airlines, providing great value to its customers across a growing network," said IAE President Jon Beatty. "We are pleased that Jetstar sees us as one of their key suppliers to enable this profitable, sustainable expansion with a V-Services(SM) Agreement that covers these new engines."

Jetstar is a low-fare network of airlines operating mainly in leisure markets. It prides itself on offering all-day, every-day low fares. The Jetstar Group consists of Jetstar Airways in Australia and New Zealand, Jetstar Asia in Singapore, Jetstar Pacific in Vietnam, Jetstar Japan and (subject to regulatory approval) Jetstar Hong Kong. Collectively, the Jetstar Group offers up to 3,000 flights a week to more than 60 destinations in 17 countries and territories across the Asia Pacific region.

Jetstar operates a fleet of 90 aircraft on short and long haul services. Jetstar has flown more than 85 million passengers and is the largest low-cost group of carriers in Asia Pacific by revenue.

IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney (NYSE: UTX), Japanese Aero Engines Corporation and MTU Aero Engines. To date, more than 5,000 V2500 engines have been delivered and nearly 2,000 more engines are on order with close to 200 customers around the world.

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