JetBlue (Nasdaq: JBLU) today announced it has amended and restated its 2012 order for the purchase and exclusive maintenance of Pratt & Whitney GTF engines. Under the terms of the agreement, the GTF engine will now power JetBlue’s total fleet of 85 Airbus A320neo family aircraft – 40 aircraft previously awarded in 2012 and now 45 additional aircraft, as well as 13 spare PW1100G-JM engines. The agreement also covers exclusive maintenance for JetBlue’s fleet of 85 A320neo family aircraft, which are scheduled for delivery beginning in 2019.
“The result of our comprehensive competitive bidding process cements a great long term partnership between JetBlue and Pratt & Whitney,” said Steve Priest, executive vice president and chief financial officer of JetBlue. “We are confident we've made an excellent choice to power our Airbus NEO fleet, and in doing so are supporting our structural cost program.”
“This agreement is an investment in the future of our fleet. Pratt & Whitney has done an outstanding job developing a next generation engine for the Airbus A320neo family and has a proven record for service and support,” said Jeff Martin, executive vice president operations, JetBlue. “By bringing the latest engine technology, these engines will allow us to maximize aircraft performance and efficiency, while minimizing both costs and our carbon footprint.”
“We appreciate JetBlue’s continued confidence in Pratt & Whitney with the selection of the GTF engine and our EngineWise aftermarket services,” said Chris Calio, president of commercial engines at Pratt & Whitney. “We’ve been working with JetBlue and supporting them with our V2500® engines since they started operations in 2000. We look forward to powering their continued success for years to come.”
Each JetBlue Airbus A320neo family aircraft will be powered by two Pratt & Whitney GTF engines, which produce a smaller noise footprint and lower operating costs when compared with today's engines. The GTF engine uses an advanced gear system allowing the engine's fan to operate at a slower speed than the low-pressure compressor and turbine, allowing all components to operate at their optimal speeds. The combination of the gear system and an all-new advanced core increases fuel efficiency and benefits the environment by reducing NOx emissions to 50% below the regulatory standard. The maintenance component of the agreement fixes the amount JetBlue pays per flight hour in exchange for maintenance and repairs under a predetermined maintenance program.