AWAS Selects IAE V2500 Engine to Power 30 Airbus A320s

Released on Thursday, July 17, 2008

AWAS, has placed a new order for the V2500 from IAE International Aero Engines to power 30 Airbus A320 family aircraft in a deal worth in excess of $500 million. The aircraft are due to be delivered between 2011 and 2015.

One of the world's largest aircraft leasing companies, AWAS currently owns a fleet of 29 A320-family aircraft powered by the V2500.

Frank Pray, President & Chief Executive Officer of AWAS said: "In the current environment, our customers are continuously conscious of lowering their operating costs. The fuel burn advantage offered by V2500 SelectOne™ is a huge benefit to airlines as the price of oil remains at record levels.

IAE Senior Vice President � Customers Ian Aitken added: "We have worked hard to ensure that the V2500 SelectOne™ meets the needs of our customers and the strength of our order book is proof of that. With this order, AWAS is doubling its V2500 fleet and we're pleased to be extending our relationship with one of the leading lessors."

The 22,000-33,000lb of thrust V2500 is available in seven different thrust settings to power the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet. More than 5,000 V2500 engines are in service or on firm order.

The SelectOne™ build standard delivers an additional one percent fuel burn advantage, along with a corresponding reduction in CO2 emissions. It will improve time-on-wing by up to 20 percent, and demonstrate compliance with the most stringent CAEP/6 NOx standards. It is due to enter into service later this year.

Headquartered in Dublin, with offices in New York, Miami, and Singapore, AWAS is one of the largest aircraft leasing companies in the world. The company is managed by a highly experienced team of commercial aviation industry professionals serving markets in The Americas, Europe, Middle East, and Asia/Pacific.