IAE lands $3.5B deal for up to 90 Jetstar A320s
Jetstar Airways has ordered V2500 turbofans from International Aero Engines for up to 90 Airbus A320s. The deal, signed here in Singapore last Thursday and worth up to $3.5 billion, also covers the cost of retrofitting V2500s on its 40 A320s to the latest SelectOne version of the engine as well as power-by-the hour maintenance coverage.
Deliveries of the Australian low-cost carrier’s new A320s started recently and are to be completed in 2015. The aircraft are to fly in Australia and New Zealand, as well as with the Qantas subsidiary’s Jetstar Asia/Valuair operation based in Singapore.
“V2500 power is the backbone of our narrowbody fleet operation and this new deal, which grows the relationship to include comprehensive aftermarket coverage, seals our long-standing partnership,” said Jetstar CEO Bruce Buchanan. “With our commitment to minimizing our impact on the environment, selecting the engine that has the lowest emissions, lowest fuel burn and the quietest engine for the A320 has been a priority for us. V2500 SelectOne is the environmental leader on this aircraft and therefore a natural choice.”
According to Chris Bewley, IAE’s regional vice president for the Asia-Pacific region, the V2500 SelectOne engine burns about 4 percent less fuel than its rival CFM International CFM56 turbofans and about 1 percent less than the original V2500s. They also meet the International Civil Aviation Organization’s anticipated CAEP 6 requirements for noise and carbon dioxide emissions.
AE provides aftermarket support for the V2500 family through seven factory-authorized maintenance, repair and overhaul facilities located in Japan, China, New Zealand, the UK, Germany and the U.S. The engine maker, which is a joint venture between Rolls-Royce, Pratt & Whitney, Japanese Aero Engines Corp. and MTU Aero Engines, also has field service representatives in Australia, Singapore and Vietnam.
Bewley told AIN that IAE has been able to maintain V2500 production rates at approximately 350 units per year, despite expected airliner order cancellations and deferrals. Airbus has been able to reschedule many deliveries to minimize gaps in output.
Other customers for V2500-powered A320s in this part of the world include Singapore’s Silk Air and Tiger Airways, Air New Zealand, Mandala of Indonesia and Vietnam Airlines. Bewley said that while the Asia-Pacific carriers have suffered a dip in demand during the global economic downturn, traffic levels starting climbing again in recent months.