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16/07/2008

Wizz Air selects the V2500 to power 50 A320s in $1.6bn order

Wizz Air, Central and Eastern Europe’s largest low cost airline has placed a follow-on order for the IAE International Aero Engines V2500 to power and support a new fleet of 50 Airbus A320 aircraft. Supported by the V2500SelectSM after market agreement, the new deal has a value at list price of about $1.6 billion.

Wizz Air currently operates 18 IAE-powered aircraft and has on order a further 23 A320s that are already committed to be equipped with the V2500. This follow on order will make Wizz Air the largest European customer for IAE.

József Váradi, CEO of Wizz Air, said: “We are committed to buying the latest technology in a cost efficient manner and our decision to purchase the V2500 again is a reflection of that pledge. As the most advanced engine available for the A320, the V2500 enables us to benefit from greater fuel efficiency, and therefore lower overall emissions, which are both vital in today’s operating environment. Along with the comprehensive aftermarket agreement, these benefits help us to manage our costs through greater cost visibility and operational savings.”

IAE President & CEO Jon Beatty added: “With the latest SelectOne™ technology, we improve the V2500 fuel burn advantage by another 1%, which translates directly into a corresponding reduction in CO2 emissions. We’ve focused the technology improvements on the most important issues that are affecting our customers today to provide them with a solution. With a fleet the size that Wizz will operate, that translates into significant savings over the engine’s lifetime.”

SelectOne™ is the product upgrade element in the V2500Select® program that will reduce fuel burn by 1 per cent, improve time-on-wing by 20 per cent, and demonstrate compliance with the most stringent CAEP/6 NOx standards. It is due to enter into service later this year.

IAE is a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (NYSE: UTX), Rolls-Royce (RR.L.), the Japanese Aero Engines Corporation and MTU Aero Engines. This year it is celebrating the 25th Anniversary of the formation of the company.