Jun 19, 2013
Paris Air Show - Philippine Airlines (PAL) has selected IAE International Aero Engines AG's V2500 engine to power its order for 34 A321 aircraft. PAL has also chosen P&W’s Geared Turbofan (GTF) engines for the 10 A321NEOs expected for delivery in 2015.
IAE is a multinational aero engine consortium whose shareholders are
comprised of Pratt & Whitney, Pratt & Whitney Aero Engines
International GmbH, Japanese Aero Engines Corporation and MTU Aero
Engines. To date, more than 5,400 engines have been delivered and nearly
1,800 more engines are on order with close to 200 customers around the
world.
The model V2533-A5 deal includes a V-Services(SM) Fleet Hour Agreement (FHA).
Deliveries are scheduled to begin in August 2013 and continue over a four-year period.
"We selected the V2500 engine for its superior fuel burn advantage and world-class reliability," said Ramon S. Ang, president and chief operating officer of Philippine Airlines. "The engines are part of a major fleet modernization program we are undertaking. We look forward to our new relationship with IAE."
"We are excited to have Philippine Airlines, Asia's first commercial airline, as a customer," said IAE President Jon Beatty. "The pairing of the V2500, a proven and dependable engine, and PAL, a well-respected operator, makes a great combination."
IAE’s fleet-hour aftermarket arrangement, called V-Services, now supports 60 percent of the V2500s in service and will support 80 percent of the engines under contract. Beatty stressed the value of the company’s support business because, as he noted, the aftermarket accounts for virtually all its profits.
The V2500 remains the most preferred engine for the A321 aircraft, powering over 60 percent of the aircraft in service and has also been selected to power over 70 percent of the aircraft in firm backlog.
“All engine companies pretty much sell at a loss,” Beatty said. “Phrased
the right way, our business model is that we don’t make money at the
point of sale and that we make money in the aftermarket, which is why
it’s so important to truly control it.”
Paris Air Show - Philippine Airlines (PAL) has selected IAE International Aero Engines AG's V2500 engine to power its order for 34 A321 aircraft. PAL has also chosen P&W’s Geared Turbofan (GTF) engines for the 10 A321NEOs expected for delivery in 2015.
IAE is a multinational aero engine consortium whose shareholders are
comprised of Pratt & Whitney, Pratt & Whitney Aero Engines
International GmbH, Japanese Aero Engines Corporation and MTU Aero
Engines. To date, more than 5,400 engines have been delivered and nearly
1,800 more engines are on order with close to 200 customers around the
world.The model V2533-A5 deal includes a V-Services(SM) Fleet Hour Agreement (FHA).
Deliveries are scheduled to begin in August 2013 and continue over a four-year period.
"We selected the V2500 engine for its superior fuel burn advantage and world-class reliability," said Ramon S. Ang, president and chief operating officer of Philippine Airlines. "The engines are part of a major fleet modernization program we are undertaking. We look forward to our new relationship with IAE."
"We are excited to have Philippine Airlines, Asia's first commercial airline, as a customer," said IAE President Jon Beatty. "The pairing of the V2500, a proven and dependable engine, and PAL, a well-respected operator, makes a great combination."
IAE’s fleet-hour aftermarket arrangement, called V-Services, now supports 60 percent of the V2500s in service and will support 80 percent of the engines under contract. Beatty stressed the value of the company’s support business because, as he noted, the aftermarket accounts for virtually all its profits.
The V2500 remains the most preferred engine for the A321 aircraft, powering over 60 percent of the aircraft in service and has also been selected to power over 70 percent of the aircraft in firm backlog.
“All engine companies pretty much sell at a loss,” Beatty said. “Phrased
the right way, our business model is that we don’t make money at the
point of sale and that we make money in the aftermarket, which is why
it’s so important to truly control it.”
A321 aircraft powered by V2500 engines offer customers a significant improvement in operating cost due to the superior fuel efficiency and improved time on-wing.
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