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Wizz Air Strikes $2.5 Billion Engine Deal With Pratt & Whitney

Download: Printable PDF Date: 13 Jul 2016 15:25 categories:
Wizz Air Strikes $2.5 Billion Engine Deal With Pratt & Whitney - Airlines publisher
Tatjana Obrazcova
Country: Hungary Aircraft: Airplanes

Wizz Air Holdings Plc, the largest low-cost airline in Central and Eastern Europe, announces that, following a competitive selection process, it has agreed with Pratt & Whitney to equip its 110 Airbus A321neo aircraft with Pratt & Whitney’s PurePower Geared Turbofan engines. Deliveries of the A321neo will start in 2019. The agreement also covers an additional 90 A321neo aircraft over which Wizz Air has uncommitted purchase rights as well as a number of spare engines.

The agreement is worth in excess of $2.5 billion at current list prices and is included in the price payable to Airbus S.A.S. under the A321neo purchase agreement signed by Wizz Air in 2015. As part of the agreement, Wizz Air has also entered into a long-term engine fleet management programme with Pratt & Whitney, ensuring continued high quality maintenance for the new-technology engines.

József Váradi, Chief Executive Officer of Wizz Air, said: “Following a detailed review process we concluded that the Geared Turbofan engine delivers the best value proposition as well as maximum fuel and operational efficiency. These metrics will translate directly into reduced operating costs for our business. While we already have a very low cost base, our focus is to be ever more efficient to offer the lowest fares for our customers while driving strong returns for shareholders.”

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