Pratt & Whitney, Kingfisher Airlines Sign Contract for $300 Million Engine Order
Washington D.C. (PRATT & WHITNEY) - Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) company, and Kingfisher Airlines signed a contract today for engines to power Kingfisher's new fleet of Airbus A330 aircraft. The agreement was signed during a ceremony at the U.S. Department of Commerce in Washington, D.C.
"After a very detailed analysis of all the engine offers for the A330, we decided that Pratt & Whitney gave us the best total solution and met all our technical requirements," said Dr. Vijay Mallya, chairman and chief executive officer, Kingfisher Airlines Limited. "Kingfisher has selected Pratt & Whitney to power our fleet of A320/A319s, ATR72s and A330s because of their ability to support our airline's vision to consistently deliver a safe, value-based and enjoyable travel experience to all our guests."
The deal includes 10 PW4000-100" installed engines, one spare and an option for an additional 10 engines. Pratt & Whitney was also awarded a long-term exclusive fleet management program to overhaul and repair Kingfisher's PW4000 engines. The total transaction is valued at $300 million, plus an additional $200 million if all options are exercised.
Pratt & Whitney and Kingfisher Airlines announced the deal with the signing of a memorandum of understanding earlier this year at the Farnborough International Airshow outside of London.
"We are delighted that Kingfisher Airlines has chosen Pratt & Whitney's PW4168A to power its new A330 aircraft," said Todd Kallman, president, Pratt & Whitney Commercial Engines. "This contract for new engines and long-term engine service offers Kingfisher the best value, as it leverages Pratt & Whitney's unique OEMROTM portfolio. We're excited to expand our partnership with Kingfisher and we look forward to our continued collaboration."
"This agreement is another building block that will strengthen U.S.-India relations, foster greater economic ties and enhance the ability of both companies to compete in the global economy," said U.S. Commerce Secretary Carlos Gutierrez, who witnessed the signing.
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