Korean Air and Pratt & Whitney in joint venture

15th Jul 2011
Korean Air and Pratt & Whitney in joint venture

Korean Air announced on July 30 it is forming a joint venture with Pratt & Whitney, the world’s leader in the design, manufacture and service of aircraft engines, to build a 120-billion won plane-engine maintenance center. The center, Incheon Aviation Tech, at Incheon Airport in Seoul, Korea, is expected to be completed in time for the commencement of operation in July 2014.

Incheon Aviation Tech will be the first-ever maintenance, repair and overhaul (MRO) center in Korea. With an investment of 120 billion WON, the center is 90% owned by Korean Air while the remaining 10% is held by Pratt & Whitney. Incheon Aviation Tech will be the exclusive engine maintenance service provider for the airline’s next generation airplanes such as the recently launched Airbus A380, and the Boeing 777s and 787s to be delivered from 2016 onwards. Incheon Aviation Tech is established with the goal of optimizing aircraft engine performance in order to achieve absolute aircraft safety and greater efficiency, and to provide Korean Air’s passengers with enhanced comfort. The business scope of the center may be further expanded to include collaboration with domestic and international airlines in the future.

Pratt & Whitney, a U.S.-based United Technologies Corp. company listed on the New York Stock Exchange, focuses on the design, manufacture and service of aircraft engines, industrial gas turbines and space propulsion systems. Its commercial engines power more than 30 percent of the world’s passenger aircraft fleet. The latest collaboration with the world leader in aircraft engines is further proof of Korean Air’s commitment to excellence in flight throughout its operations.

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