Air New Zealand announced today that it had selected the V2500 engine from IAE International Aero Engines to power its new fleet of Airbus A320 series aircraft.

The modern IAE V2500 engines are for 15 A320 family aircraft with purchase rights for a further 20 aircraft. These involve flexible selection options by Air New Zealand and may be a mix of types within the A320 family. With first deliveries scheduled for September 2003, the initial Airbus A320s will be operated on flights between New Zealand, Australia and on Pacific island services.

Air New Zealand`s Senior Vice President Operations & Technical Craig Sinclair said: “The clean, quiet and efficient V2500 emerged a clear winner after an extremely thorough evaluation of technical, commercial and engine support options.

“This new Airbus fleet is evidence of Air New Zealand`s determination to provide world-class standards, and IAE`s advanced V2500 is an important contributor to our fleet-modernisation initiative,” he said.

Steve Heath, IAE`s President & CEO, added: “Air New Zealand`s selection confirms a view which has become increasingly evident in recent years - that the V2500 provides the superior choice on the Airbus A320 series. This deal marks a breakthrough for IAE in the Pacific region and we`re delighted to welcome Air New Zealand to our world-wide family of more than 80 operators.”

The V2500 engines will be overhauled at the Christchurch Engine Centre, a joint venture between Air New Zealand and Pratt & Whitney. This maintenance contract will add the V2500 to the other engine models, the Pratt & Whitney JT8D and the Rolls-Royce Dart, currently being overhauled at the Christchurch Engine Centre.

IAE`s V2500 engine family offers the highest levels of reliability and performance while operating quietly, efficiently and at low cost to operators. Pratt & Whitney and Rolls-Royce are leading shareholders in the IAE partnership which also includes the Japanese Aero Engines Corporation and MTU Aero Engines of Germany.

Pratt & Whitney, a United Technologies Company (NYSE:UTX), is also a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines.

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