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Pratt & Whitney Wins US$83 Million Order for V2500 Engines from CIT Aerospace

Written by thomas · Filed Under Commercial 

July 18, 2008

thomas

FARNBOROUGH, England, July 18 /PRNewswire-FirstCall/ — FARNBOROUGH AIR
SHOW — CIT Aerospace has selected the International Aero Engines V2500
engine to power 15 Airbus A320-family aircraft. The contract is valued at
more than $83 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).

CIT Aerospace is a unit of CIT, which now has a combined portfolio and
order book that includes 88 A320-family aircraft powered by the V2500
engine.

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.

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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