Volaris Expands Aftermarket Agreement With IAE
Adds Coverage for 26 Incremental V2500 Engines
GLASTONBURY, CT -- (Marketwire) -- 07/09/12 -- FARNBOROUGH AIR SHOW
-- Volaris, one of Mexico's leading low-cost airlines, and IAE have
amended their existing V-Services(SM) Fleet Hour Agreement (FHA) to
add coverage for 26 incremental V2500 engines.
Volaris' entire fleet of A320 family aircraft powered by V2500
engines are now covered by IAE's V-Services(SM) aftermarket
agreement. The deal is valued at approximately $400 million.
"IAE is delighted to expand our existing V-Services(SM) Fleet Hour
Agreement with Volaris to cover its entire fleet of V2500 engines.
This amended and expanded FHA demonstrates IAE's commitment to the
continued growth and success of Volaris in the years to come," said
IAE President Jon Beatty. "In recent years Volaris has established
itself effectively as a critical element of the Mexican air travel
infrastructure, but also has expanded by its growing presence in the
He continued: "Our ability to provide our highly reliable and
efficient V2500 engine along with V-Services(SM) aftermarket
solutions for customers like Volaris has enabled them not only to
succeed as a new airline, but also to continue to grow their presence
across the entire continent."
Volaris currently has 35 aircraft in their fleet, with an additional
13 on firm order, all powered by V2500 engines.
As Mexico's second largest airline, Volaris is a leading competitor
in not only the domestic Mexican market, but across North America.
Its headquarters are located in Santa Fe, Alvaro Obregon, Mexico
City, and its operational base is located at the Lic. Adolfo Lopez
Mateos International Airport (TLC) in Toluca.
Volaris was founded in 2003. Its first flight crossed the skies in
March 13, 2006, on an inaugural flight from Toluca to Tijuana. The
company's vision is: "To transcend by creating and living the best
travel experiences," in addition to the Volaris mission, "with the
best people and at the lowest costs, to enable more people to
V-Services(SM) is a portfolio of services that applies the power of
IAE's OEM network to provide predictable maintenance costs, optimized
engine performance and reliability. On an engine flight hour basis,
FHAs provide operators with coverage for shop maintenance events,
which reduces the risk of unscheduled maintenance and associated
costs. Through FHAs, operators have the ability to transfer any risks
associated with their V2500 maintenance to IAE. Around 60% of the
V2500 fleet in service is covered under the V-Services(SM) FHA.
IAE is a multinational aero engine consortium whose shareholders are
comprised of Pratt & Whitney (NYSE: UTX), Japanese Aero Engines and
MTU Aero Engines. To date, more than 5,000 engines have been
delivered and nearly 2,000 more engines are on order with close to
200 customers around the world.
FOR MORE INFORMATION CONTACT:
IAE International Aero Engines AG
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