P&WC, American Express Partner on Engine Payment Option

 - December 6, 2022, 10:37 AM
A new payment option offered in partnership with American Express will allow select Pratt & Whitney Canada engine customers to extend payment terms. (Photo: Pratt & Whitney Canada)

Pratt & Whitney Canada (P&WC) is partnering with American Express (Amex) to offer a payment option for qualifying customers that will allow them to extend payment terms when purchasing a new or used PWC engine. By extending payment terms, customers will be able to generate revenue for the engine before paying for it.

“We’re committed to providing payment solutions to help businesses gain greater flexibility and improve working capital to unlock new opportunities for growth,” said Phanikar Yenamandra, v-p of B2B strategy and enablement for global commercial services at Amex Canada.

In the pilot phase of the program, Amex’s payment solution will be available on new and used engines sold outright or with an exchange, including those engines under the P&WC Smart program. Engine exchanges are popular because they don’t require as much logistics and they reduce aircraft downtime.  

“Our portfolio of flexible, alternative maintenance and payment solutions continues to expand,” said P&WC v-p of customer service Irene Makris. “Along with our Amex collaboration, we have recently introduced our spare engine solutions portfolio including lease-to-own, on-wing leasing, and long-term leasing options, all of which enable the customer to conserve capital, help keep operating costs down, and economically extend the life of the aircraft. These solutions complement P&WC’s payment solutions offerings already available with our existing partners.”