Wizz Air, in agreement with Pratt & Whitney for PurePower Geared Turbofan engines
Wizz Air Holdings Plc announces that, following a selection process, it has reached an agreement with Pratt & Whitney. It aims to equip 110 Airbus A321neo aircraft with PurePower Geared Turbofan engines.
Airbus A321neo aircraft deliveries will begin in 2019. The agreement also covers 90 of additional A321neo aircraft over which Wizz Air has purchase rights without commitment, Also included in the agreement are a series of spare engines.
The deal is worth over 2,5 billion dollars at list prices. The cost is included in the price paid to Airbus SAS in accordance with the purchase agreement for the A321neo aircraft signed by Wizz Air in 2015.
As part of the agreement, Wizz Air has entered into a long-term engine fleet management program with Pratt & Whitney.
József Váradi, Chief Executive Officer of Wizz Air, said: “Following a detailed analysis process, we have come to the conclusion that the Geared Turbofan engine offers the best value as well as maximum fuel efficiency and operational efficiency. These values will directly translate into reduced operating costs for our business. While we already have a very low base cost, our goal is to be more efficient in offering the lowest rates to our customers and at the same time to produce solid results for shareholders. ”