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Pratt & Whitney Wins US$116 Million Order for V2500 Engines from Hainan Airlines

Written by thomas · Filed Under Commercial 

July 16, 2008

thomas

FARNBOROUGH, England, July 16 /PRNewswire-FirstCall/ — FARNBOROUGH AIR
SHOW — China-based Hainan Airlines has selected the International Aero
Engines V2500 to power 13 Airbus A320 aircraft, backed by a long-term,
V2500Select(SM) aftermarket agreement. The combined engine and aftermarket
deal is valued at more than $116 million to Pratt & Whitney, if all options
are exercised. Pratt & Whitney, a United Technologies Corp. (NYSE: UTX)
company, is a major participant in International Aero Engines (IAE).

Hainan Airlines placed an initial order to power a total fleet of 20
A319 aircraft. The airline took delivery of its first V2500-powered
aircraft in June.

The V2500-A5 is available in seven different thrust settings ranging
from 22,000 lbs. to 33,000 lbs. to power the Airbus A319, A320 and A321
family of aircraft, as well as the A319 Corporate Jet. More than 5,000
V2500 engines are in service or on firm order. V2500Select(R) is a tailored
package combining aftermarket support and the V2500 SelectOne(TM) engine
upgrade, providing operators with reduced operating costs and a predictable
budget.

In China, the V2500 powers 195 aircraft in service and during the past
18 months has been selected on over 160 additional A320-family aircraft
placed on firm order in the region. IAE is a multinational aero engine
consortium whose shareholders comprise Pratt & Whitney, Rolls-Royce, the
Japanese Aero Engines Corporation and MTU Aero Engines. More than 1,300
V2500-powered aircraft have been delivered and the worldwide fleet has
accumulated over 40 million flying hours.

Pratt & Whitney has over 16,000 aircraft engines installed with
hundreds of airlines around the world. Additionally, Pratt & Whitney is a
leading partner in two joint venture companies that manufacture commercial
aircraft engines: International Aero Engines, which makes the V2500 for the
Airbus A320 family of aircraft, and the Engine Alliance, whose GP7200
engine is FAR 33 certified for 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., is a diversified
company providing high technology products and services to the global
aerospace and building industries.

This release includes “forward looking statements” concerning
anticipated business opportunities 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 changes in the health of the global economy and the aerospace
industry. For information identifying other important economic, political,
regulatory, legal, technological, competitive and other uncertainties, see
UTC’s 10-K, 10-Q and other reports filed with the SEC.

SOURCE Pratt & Whitney

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