International Aero Engines has logged orders for $1.4 billion worth of V2500 engines at Farnborough. With more than 5,000 powerplants in service or on order, the company’s long-term future would seem to look secure.
Airbus A320 family
IAE has logged its largest-ever aftermarket deal to provide support for engines powering U.S. Airways’ fleet of Airbus A320 family aircraft. The contract runs to 2032 and initially covers 74 aircraft currently in service, along with engines for a further 78 ordered by U.S. Airways last year. According to IAE, aftermarket agreements cover more than half of the V2500s in service.
International Aero Engines has been awarded a follow-on order from Hainan Airlines for V2500 engines to power 13 Airbus A320s. Along with a long-term V2500Select aftermarket agreement, the deal is worth $350 million. The Chinese operator took delivery of the first of 20 V2500-powered A319s in June, becoming the latest Chinese airline to fly the Airbus narrowbody.
Abu Dhabi’s Etihad Airways announced here yesterday orders for 100 Airbus and Boeing aircraft nominally worth $20 billion. The contracts include options on another 55 jetliners and purchase rights covering an additional 50 machines (see table). If the airline converts all options and purchase rights to firm orders, the value of the overall package would reach about $43 billion in 2008 catalogue prices.
Clouds of dry ice swirled around onlookers as Pratt & Whitney revealed a full-scale model of its new “PurePower” PW1000G geared turbofan (GTF) on its stand yesterday. The engine is performing “outstandingly well” in flight tests now under way, said Pratt & Whitney president Steve Finger, who added, “This is the first of a new generation of ultra high bypass engines.”
S7 Airlines announced here yesterday that it has signed a 13-year engine service per hour contract with Snecma Services covering its CFM56-5A engines. The new pact follows another signed two years ago. One of Russia’s largest domestic airlines, S7 Airlines bases its operation in Novosibirsk and has its largest hub at Domodedovo International Airport in Moscow.
Snecma Services has signed a three-year maintenance contract with privately-owned Bahrain Air to support the CFM56-5A engines that power the carrier’s fleet of Airbus A320 aircraft–which will number four by the end of the year.
CFM International partners General Electric and Snecma have extended their successful 34-year partnership until 2040 and revealed plans to develop an all-new engine, provisionally called the Leap-X. The engine will provide 16 percent more fuel efficiency than today’s CFM56; however, it will not be offered for retrofit to existing aircraft.
The new Series 5000 full flight simulator that CAE inaugurated recently at its Burgess Hill training center near Gatwick is the first example of a new design intended as a more affordable alternative to the company’s established 7000 series.
Recent demand for younger airliners has ensured lease market buoyancy, but rental rates could fall if more operators release capacity or collapse under the pressure of fuel prices and scarce credit. Major lessor International Lease Finance Corp. (ILFC) has warned that air traffic growth might slow down, potentially causing “a negative impact on future lease rates.”