JetSMART selects RTX's Pratt & Whitney GTF™ engines to power an additional 35 Airbus A320neo family aircraft
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Insights
The announcement of JetSMART's selection of Pratt & Whitney's GTF engines for an additional 35 Airbus A320neo family aircraft, including the A321XLR variant, signifies a considerable expansion in JetSMART's fleet capabilities. This is particularly noteworthy given the A321XLR's extended range, which could enable JetSMART to explore new, longer routes, potentially increasing their market share within the Latin American aviation sector.
Furthermore, the commitment to a Comprehensive service agreement for engine maintenance underlines a strategic move towards cost predictability and operational efficiency. The EngineWise® service could help stabilize maintenance expenses, which are a significant variable cost for airlines. This may result in improved financial forecasting and budgeting for JetSMART.
Pratt & Whitney's GTF engines offer a 20% reduction in fuel consumption and CO2 emissions, as well as a 75% reduction in noise footprint compared to previous engine models. These improvements are substantial when considering the environmental impact of aviation and the growing consumer and regulatory demand for sustainable travel options.
The adoption of these engines aligns with global sustainability trends and may provide JetSMART with a competitive advantage by appealing to environmentally conscious passengers. Additionally, this move could preemptively address potential future regulations aimed at curbing aviation emissions, positioning JetSMART as a proactive player in the industry's transition to greener technologies.
The financial implications of this deal for both Pratt & Whitney and JetSMART are multifaceted. For Pratt & Whitney, the sale of 35 GTF engines, coupled with a long-term maintenance agreement, represents a significant revenue stream and strengthens its market position in engine manufacturing for single-aisle aircraft. The recurring revenue from the maintenance contract will contribute to the company's financial stability and earnings visibility.
For JetSMART, the investment in new, fuel-efficient engines may lead to lower operating costs over time, despite the initial capital expenditure. The reduced fuel consumption and maintenance costs could improve profit margins and operational efficiency, which are critical factors for the success of an ultra low-cost carrier (ULCC). Investors should monitor how these factors influence JetSMART's financial performance and RTX's stock value in the coming quarters.
Airline also to receive EngineWise® maintenance support
JetSMART, an ultra low-cost carrier (ULCC), selected the GTF engine to power 70 A320neo family aircraft in June 2019. The airline also operates an additional 15 leased GTF powered A320neo family aircraft and a fleet of 11 A320ceo family aircraft powered by the V2500® engine.
"We are building upon our collaboration with JetSMART as they drive continued expansion in the Latin American market," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "With unmatched fuel efficiency, payload and range, GTF engines will enable JetSMART to open new routes across
"We are pleased to select additional GTF engines for our A320neo family fleet, as a key element to reduce fuel consumption and CO2 emissions by
JetSMART has also concluded a support package with Pratt & Whitney for inspections of GTF engines, further strengthening the relationship as strategic partners.
The Pratt & Whitney GTF™ engine, featuring Collins Aerospace nacelle and engine accessories, delivers industry-leading fuel efficiency and sustainability benefits for single-aisle aircraft. The engine's revolutionary geared fan architecture is the foundation for even more efficient and sustainable propulsion technologies in the decades ahead, with advancements like the Pratt & Whitney GTF Advantage™ engine and beyond. Learn more at prattwhitney.com/gtf.
About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. To learn more visit www.prattwhitney.com.
About RTX
RTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of
For questions or to schedule an interview, please contact corporatepr@rtx.com
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SOURCE RTX
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