PrintBig V2500 order from Jetstar translates into a 270-million-euro sales volume for MTU Aero Engines
Engine manufacturer benefits from new engine order and aftermarket services agreement
Munich, January 28, 2010 – Just a few days before the Singapore Airshow (February 2 to 7, 2010) opens its doors, MTU Aero Engines received a major order, which will be worth about 270 million euros. The German engine manufacturer benefits from an agreement concluded by Australian Jetstar Airways with International Aero Engines (IAE) for the purchase of V2500 engines and after-sales services. The total value of the deal with the airline, a wholly-owned subsidiary of Qantas Airways, will be around 2.5 billion euros. Since MTU has a stake of approximately 11 percent in the V2500 program, its share in the business will be some 270 million euros.
Jetstar Airways has selected the V2500 engine to power a new fleet of 50 additional A320 family aircraft, and has moreover taken options and purchase rights on the engines for another 40 aircraft. In addition, the airline has concluded an IAE aftermarket services agreement covering the engines now purchased, plus those installed on 44 IAE-powered A320s currently operated by Jetstar.
The V2500 is MTU Aero Engines' most important commercial engine program for both its OEM and commercial MRO business segments. To date, more than 5,500 copies of the propulsion system are in service worldwide or on firm order. The latest build standard, the V2500 SelectOne™, is designed to be more fuel efficient and has a markedly longer on-wing time than its predecessor versions. These are advantages that result in a marked reduction in maintenance costs.
MTU Aero Engines is Germany's leading engine manufacturer and a long-established player in the industry. The company has a global workforce of about 7,500 employees. In the commercial area, MTU is the world's largest independent provider of engine maintenance services. In the military arena, it is Germany's lead company for practically all engines flown by the country's armed forces. A global technology leader, MTU excels in low-pressure turbines, high-pressure compressors, and manufacturing and repair techniques.