PrintNew chapter in the V2500 success story: IAE agreement extended to 2045
MTU Aero Engines' most important engine program
Munich, March 11, 2011 – The V2500 success story is set to continue: The shareholders of the International Aero Engines (IAE) consortium, among them MTU Aero Engines, have extended the collaboration agreement until 2045.
MTU CEO Egon Behle stated: "The V2500 continues to be our best-selling product, both in the new-engine market and in the engine maintenance business. It secures many hundreds of highly skilled jobs at MTU." Germany's leading engine manufacturer, which holds an 11 percent stake in the program, contributes the propulsion system's low-pressure turbine.
The terms of collaboration on the V2500 had been agreed upon 27 years ago. Other members of the multi-national consortium, in addition to Germany's MTU Aero Engines, are Pratt & Whitney, Rolls-Royce, and Japanese Aero Engines Corporation. The IAE V2500 engine is today's leading and most cost efficient powerplant for the Airbus A320 family of aircraft. The companies partnering in IAE are convinced that the V2500 will continue to have a strong foothold in the global engine market for many years to come. Currently, some 6,500 engines are in service or on firm order, the customers being more than 190 airlines in over 70 countries. To date, the worldwide fleet of V2500 engines have accumulated more than 85 million flying hours.
MTU Aero Engines, Germany's only independent engine manufacturer, is an established player in the industry. The company has a workforce of more than 7,900 employees worldwide. In fiscal 2010, it posted consolidated sales of over 2.7 billion euros. A technology leader, MTU excels in low-pressure turbines and high-pressure compressors, as well as in manufacturing and repair techniques. In the commercial area, MTU is the world's largest independent provider of engine maintenance, repair and overhaul (MRO) services.