Press archive detail
Singapore Airshow a success: MTU Aero Engines benefits from V2500 business
• Value of new engine orders and aftermarket agreements: some 65 million euros
Munich, February 8, 2010 – For MTU Aero Engines, the 2010 Singapore Airshow proved a profitable event: Just a few days before the event officially opened, Germany's leading engine manufacturer had already benefited from a major V2500 engine order placed with International Aero Engines (IAE); now the engine consortium has announced more contracts it received over the course of the trade show. For MTU, which holds an 11-percent share in IAE, these deals translate into sales worth about 65 million euros.
"The V2500 is a top selling engine, no doubt about that," said a pleased Egon Behle, MTU's CEO, commenting on the contract wins scored at the airshow: "The propulsion system is tremendously popular and successful, especially so in Asia. For MTU, the V2500 is the engine program which generates the highest sales in terms of both its OEM and its MRO business."
The largest V2500 contract received in Singapore was awarded by Turkish Airlines, which selected the engine to power 20 A320-family aircraft it has on firm order, plus another ten it has on option. Sichuan Airlines has chosen V2500s to equip 12 A320s for which it has placed firm orders; moreover, the Chinese carrier concluded a long-term IAE aftermarket services agreement for these engines. Middle East Airlines, too, signed a long-term aftermarket services contract covering the V2500 engines to power six A320 aircraft on firm order and another three on which it has taken options. Shortly before the trade show, Australian carrier Jetstar Airways had placed an order worth 2.5 billion euros with IAE, with MTU's share in the deal amounting to about 270 million euros.
About MTU Aero Engines
MTU Aero Engines is one of the world's largest engine manufacturers and has a global workforce of about 7,500 employees. In the commercial area, MTU is the world's largest independent provider of engine maintenance services, and in the military arena, it is Germany's industrial lead company for practically all engines flown by the country's armed forces. A global technology leader, MTU excels in low-pressure turbines, high-pressure compressors, and manufacturing and repair techniques.