September 4, 2003
EVENDALE, Ohio -- International Lease Finance Corporation (ILFC) has selected engines from the GE-P&W Engine Alliance for up to 14 new Airbus A380 aircraft.
The engine agreement, covering four firm and ten option A380s, is valued at $200 million for the firm aircraft and a total of $800 million if all options are exercised. This is the first firm engine order ILFC has placed for its A380 fleet.
The Engine Alliance will provide both the 70,000-pound thrust GP7270 for passenger versions and the 77,000-pound thrust GP7277 for freighters. The aircraft and engines will be delivered between 2007 and 2012.
ILFC is known around the world for owning and managing one of the largest and most advanced commercial aircraft leasing fleets, said Lloyd Thompson, president of the Engine Alliance. We are proud that they have selected our engine as the first firm engine order for the ILFC A380 fleet.
The GP7000 engine family combines the business and technology strengths of Pratt & Whitney (NYSE:UTX) and GE Aircraft Engines (NYSE:GE) whose engines power the vast majority of large commercial aircraft in service today. With the ILFC order, the Engine Alliance has won more than half of all A380 engine orders decided to date. Other customers include Air France, Emirates and FedEx. All A380 freighters ordered to date will be powered by the GP7277.
Our airline customers demand superior performance and reliability from their aircraft and engines, said Steven F. Udvar-Hazy, chairman and chief executive officer of ILFC. We have worked with GE and Pratt for many years now. Together they bring the best of their two great companies to the A380, the worlds largest commercial aircraft.
The Engine Alliance is designing the GP7200 specifically for the 550-plus passenger Airbus A380. The engines pedigree comes from two of the most successful wide-body engine programs in aviation history -- the GE90 and PW4000 families. These engines have demonstrated industry leading ETOPS reliability from service entry. Building on the GE90 core and the PW4000 low-pressure modules, the GP7200 will deliver unprecedented performance, reliability, environmental compatibility, and customer value. Development is on schedule to support a 2006 entry into service.