P&W and Jetblue Sign Long-term Service Agreement for 230 V2500 Engines

JetBlue Airways ("JetBlue") and Pratt & Whitney, a Raytheon Technologies business (NYSE: RTX), through its affiliate, IAE International Aero Engines AG ("IAE"), announced that the airline has signed a 13-year EngineWise® fixed-price agreement for 230 V2500® engines that power the airline's A320ceo family fleet.

"The V2500 engine has been the workhorse of the JetBlue fleet since the airline's inception," said Steve Priest, Chief Financial Officer at JetBlue. "This agreement provides predictable maintenance and supports efficient operations needed to serve our customers for many years to come."

The highly reliable and fuel efficient V2500 engine is offered through IAE, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney, Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines.

JetBlue operates a fleet of 193 Airbus A320ceo family aircraft powered by the V2500 engine. The airline has also ordered 85 GTF-powered Airbus A320neo family aircraft, of which 10 have already been delivered. In addition, JetBlue has 70 GTF-powered Airbus A220 aircraft on order, with deliveries scheduled to begin later this year.

"We truly appreciate our long-standing and successful relationship with JetBlue," said Rick Deurloo, chief commercial officer at Pratt & Whitney. "We are committed to partnering with the airline on V2500 engine maintenance to optimize fleet performance well into the future."

The V2500 engine is backed by an established global network of 18 facilities for maintenance, repair and overhaul (MRO), including nine IAE partner facilities, of which three are managed by Pratt & Whitney and its joint ventures: the Turkish Engine Center in Istanbul, the Shanghai Engine Center in China and the Christchurch Engine Center in New Zealand.

Source: Pratt & Whitney, A United Technologies Company (NYSE:UTX)
Date: Jul 30, 2020