Agreement is aircraft lessor's first direct GTF engine
order
LONDON, July 23,
2024 /PRNewswire/ -- Farnborough Air Show - Pratt
& Whitney, an RTX (NYSE: RTX) business, announced today that
Avolon has selected GTF engines to power 80 Airbus A320neo family
aircraft. The order means Avolon will have 158 GTF-powered aircraft
in its delivered and committed fleet, with options for engines to
power 80 additional aircraft.
This order represents one of Pratt & Whitney's largest
transactions with a lessor for its GTF engines.
"We are building on our collaboration with Avolon, who remains
at the forefront of the lessor community," said Rick Deurloo, president of Commercial Engines at
Pratt & Whitney. "GTF engines will provide Avolon's customers
with unmatched fuel efficiency and the lowest carbon emissions
available for single aisle aircraft."
"These engines will power our large orderbook of A320neo family
aircraft and put us in an excellent position to service our
customers' narrowbody requirements out to 2030 and beyond," said
Andy Cronin, chief executive officer
at Avolon. "Engine innovation has been one of the key tools to
lower emissions and support the industry's decarbonization journey.
We value Pratt & Whitney's strong customer focus and are
excited about leveraging their GTF engines to support the
transition of our fleet to more fuel-efficient technology."
Avolon currently has a portfolio of 81 V2500-powered A320ceo
family aircraft and 39 GTF-powered A320neo family aircraft in its
delivered fleet.
About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture
and service of aircraft engines and auxiliary power units. To learn
more visit www.prattwhitney.com.
About RTX
With more than 185,000 global employees, RTX
pushes the limits of technology and science to redefine how we
connect and protect our world. Through industry-leading businesses
– Collins Aerospace, Pratt & Whitney, and Raytheon – we are
advancing aviation, engineering integrated defense systems, and
developing next-generation technology solutions and manufacturing
to help global customers address their most critical challenges.
The company, with 2023 sales of $69
billion, is headquartered in Arlington, Virginia.
About Avolon
Avolon is a leading global aviation
finance company connecting capital with customers to drive the
transformation of aviation and the economic and social benefits of
global travel. We pride ourselves on our deep customer
relationships, our collaborative team approach, and our fast
execution. We invest with a long-term perspective, diversifying
risk and managing capital efficiently to maintain our strong
balance sheet. Working with 142 airlines in 63 countries, Avolon
has an owned, managed, and committed fleet of 1,029 aircraft, as of
30 June 2024.
www.avolon.aero
For questions or to schedule an interview, please contact
corporatepr@rtx.com.
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SOURCE RTX