Jetstar Confirms IAE V2500 Power In US$3.5 Billion Deal
(Source: International Aero Engines; issued January 27, 2010)
International Aero Engines today confirmed that Jetstar Airways, a wholly-owned subsidiary of Qantas Airways, has chosen the V2500 to power a new fleet of 50 additional Airbus A320 family aircraft, with options and purchase rights on up to 40 more aircraft.
The Engine Purchase Agreement, which is for the latest V2500 SelectOne build standard, is worth around US$1.5 billion if all the options and purchase rights are exercised. The aircraft will be distributed amongst the mainline Jetstar fleet based in Australia and New Zealand, as well as with Jetstar Asia/Valuair of Singapore that is an existing equity investment by the Qantas Group.
In addition, the airline has signed a US$2 billion long-term IAE Aftermarket Services agreement covering these new engines, and also those installed on 40 IAE-powered aircraft that the Jetstar businesses currently operate.
Bruce Buchanan, CEO of Jetstar said: “V2500 power is the backbone of our narrowbody fleet operation and this new deal, growing the relationship to include comprehensive aftermarket coverage, seals our long-standing partnership. With our commitment to minimizing our impact on the environment, selecting the engine that has the lowest emissions, lowest fuel burn and the quietest engine for the A320 has been a priority for us. V2500 SelectOne is the environmental leader on this aircraft and therefore a natural choice.”
IAE President and CEO, Ian Aitken added: “For Jetstar to retain its reputation as a cost-effective option for customers, operating expenses must be a key focus. Selecting the V2500 SelectOne, combined with an IAE Aftermarket Services agreement, will ensure that Jetstar can further minimize its cost base and also provide complete financial transparency. We’ve worked hard to ensure that customers like Jetstar can profit from a lower cost of ownership with V2500 SelectOne and our aftermarket solutions.
“We have a long and successful relationship with Jetstar and we’re delighted to build on our position as one of the airline’s largest suppliers.”
The V2500 SelectOne build standard delivers an additional one percent fuel burn advantage, along with a corresponding reduction in CO2 emissions. It improves time-on-wing by up to 20 percent, and will be compliant with the most stringent CAEP/6 NOx standards. It entered service in October 2008.
The V2500 is available in seven different thrust settings, from 22,000 to 33,000lb, to power the Airbus A319, A320 and A321 Family of aircraft as well as the Airbus Corporate Jetliner. More than 5,500 V2500 engines are in service or on firm order around the globe.
IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney, Rolls-Royce, Japanese Aero Engines Corporation and MTU Aero Engines. (ends)
Pratt & Whitney Share of Jetstar Airways Order Potentially Valued in Excess of $1 Billion
(Source: Pratt & Whitney; issued January 28, 2010)
SINGAPORE --- Jetstar Airways, a subsidiary of Qantas Airways, has awarded International Aero Engines (IAE) an order for V2500 engines to power a new fleet of 50 Airbus A320-family aircraft, with the option to purchase V2500 engines for up to 40 more aircraft. The airline also signed a 15-year aftermarket services agreement with IAE covering these new engines, as well as V2500 engines installed on 44 aircraft the three Jetstar airlines currently operate.
The value to Pratt & Whitney of the order and aftermarket agreement could exceed $1 billion if all options are exercised. Pratt & Whitney is a United Technologies Corp. company and a major participant in IAE.
The agreement is for the latest V2500 SelectOne build standard. The aircraft will be distributed among the mainline Jetstar fleet and the airline's joint ventures with Qantas, Jetstar Pacific in Vietnam, and Jetstar Asia in Singapore.
The V2500 is available in seven different thrust settings, from 22,000 to 33,000 lbs., to power the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet.
The V2500 SelectOne build standard delivers an additional 1 percent fuel burn advantage, along with a corresponding reduction in CO2 emissions, and it improves time on-wing by up to 20 percent, compared to a standard V2500-A5. It is compliant with the most stringent CAEP/6 NOx standards. It entered service in October 2008.
IAE is a multinational aero engine consortium comprised of Pratt & Whitney, Rolls-Royce, the Japanese Aero Engines Corporation and MTU Aero Engines. Nearly 6,000 V2500 engines are in service or on firm order with more than 190 customers around the world.
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. (ends)
Rolls-Royce Share of Jetstar V2500 Order Worth up to $1.2 Billion
(Source: Rolls-Royce plc; issued January 28, 2010)
Rolls-Royce, the global power systems company, has won a share of an order from Jetstar Airways for V2500 engines to power up to 90 Airbus A320 family aircraft. The order is worth up to $1.2bn to Rolls-Royce if all options are exercised.
Jetstar, a wholly-owned subsidiary of Qantas Airways, has selected the engine for a new fleet of 50 additional aircraft, with options and purchase rights on up to 40 more. The aircraft will be distributed amongst the Jetstar Group fleet that includes investments by Qantas in low cost carriers Jetstar Asia and Valuair of Singapore and Jetstar Pacific, Vietnam’s second largest domestic carrier.
The contract includes a long-term engine service agreement for these aircraft as well as engines installed on 40 aircraft already operated by the three Jetstar Group airline brand businesses.
The V2500 is produced by the International Aero Engines consortium (IAE) in which Rolls-Royce is a senior shareholder. IAE’s other partners are Pratt & Whitney, the Japanese Aero Engines Corporation and MTU Aero Engines.
The 22,000 - 33,000lb thrust V2500 powers the Airbus A319, A320 and A321 family of aircraft as well as the Airbus Corporate Jetliner. More than 5,500 V2500 engines are in service or on firm order worldwide.