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Farnborough International Airshow: MTU benefits from V2500 orders
• Projected revenues: around 120 million euros
Farnborough, July 22, 2010 – This year's international airshow in Farnborough near London opened with excellent news for the entire aviation industry. A number of profitable deals were announced on the very first trade days of the event in Great Britain. MTU Aero Engines, too, will benefit from numerous orders coming in: The three carriers China Southern Airlines, Yemen Airways (Yemenia) and Vietnam Airlines have selected the V2500 to power their A320-family aircraft, with some of the contracts including long-term aftermarket services agreements. Germany's leading engine manufacturer has an approximate 11-percent stake in the IAE engine. Counting in the engine maintenance business, its share in the new orders is worth the equivalent of about 120 million euros in sales.
Egon Behle, MTU Aero Engines CEO, is very pleased with the order announcements and said: "The airshow in Farnborough indicates that the worst crisis the aviation industry has ever faced is behind us. To me, the contracts placed go to show that the V2500 continues to be a highly attractive engine in the global marketplace."
The V2500 remains a top selling engine: To date, more than 5,500 units are in revenue service or on firm order. This type of propulsion system is particularly popular in the Asian market. In the maintenance area, MTU is the world's leading service provider: The maintenance, repair and overhaul (MRO) work is carried out at MTU Maintenance Hannover, Germany, and at MTU Maintenance Zhuhai, China.
About MTU Aero Engines
MTU Aero Engines is Germany's leading engine manufacturer and an established player in the industry. The company has a global workforce of about 7,600 employees and posted consolidated sales of approximately 2.6 billion euros in fiscal 2009. In the commercial area, MTU is the world's largest independent provider of engine MRO services. In the military arena, it is Germany's industrial lead company for practically all engines flown by the country's armed forces. MTU is a global technology leader, excelling in low-pressure turbines, high-pressure compressors, as well as manufacturing and repair techniques.