SMBC Aviation Capital confirms an additional 42 Airbus A320neo family aircraft powered by RTX's Pratt & Whitney GTF™ engines

Rhea-AI Summary

Pratt & Whitney, an RTX business, announced that SMBC Aviation Capital has exercised options for 22 firm orders of GTF-powered A320neo family aircraft. This is in addition to a 2021 order for 20 aircraft, bringing SMBC's total commitment to 42 firm A320neo family aircraft with GTF engines. SMBC Aviation Capital, one of the largest lessors for GTF-powered A320neo family aircraft, initially selected 50 firm aircraft in 2019 and currently manages a portfolio of 142 GTF-powered A320neo family aircraft. The announcement reinforces the relationship between these two global aviation leaders, highlighting the economic and environmental benefits of the GTF engines for airline customers.

Positive

• SMBC Aviation Capital exercised options for 22 additional firm orders of GTF-powered A320neo family aircraft
• Total commitment increased to 42 firm A320neo family aircraft with GTF engines
• SMBC Aviation Capital manages a portfolio of 142 GTF-powered A320neo family aircraft
• Reinforces relationship between Pratt & Whitney and SMBC Aviation Capital

Negative

• None.

One of the largest GTF engine lessors now owns, manages, and has firm commitments for 142 GTF-powered aircraft

LONDON, July 22, 2024 /PRNewswire/ -- Farnborough Air Show  — Pratt & Whitney, an RTX (NYSE: RTX) business, today announced SMBC Aviation Capital, one of the largest lessors for GTF- powered A320neo family aircraft, has exercised options for 22 firm orders. This is supplemental to a 2021 order for 20 additional firm aircraft, bringing the lessor's additional commitment to 42 firm A320neo family aircraft equipped with GTF engines.

SMBC Aviation Capital announced its initial selection for 50 firm Pratt & Whitney A320neo family aircraft in 2019, and currently manages a portfolio of 142 GTF-powered A320neo family aircraft. Today's announcement affirms the relationship between two global leaders in the aviation space.

"We appreciate SMBC Aviation Capital's continued confidence in Pratt & Whitney as we work together to deliver economic and environmental benefits for airline customers," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "These additional orders are a testament to the advantages this engine delivers as the most fuel-efficient, sustainable engine for single-aisle aircraft."

"SMBC Aviation Capital is pleased to confirm these latest technology engines reflecting our underlying commitment to invest in the most fuel efficient and sustainable aircraft types, which our customers want to operate," said Barry Flannery, CCO of SMBC Aviation Capital.

ABOUT SMBC AVIATION CAPITAL:
SMBC Aviation Capital is the second largest aircraft lessor in the world. Benefitting from the strong support of its shareholders Sumitomo Mitsui Financial Group and Sumitomo Corporation, SMBC Aviation Capital has a high-quality global airline customer base with a portfolio comprising 83% narrow-body aircraft and 66% new technology aircraft (by net book value). SMBC Aviation Capital has a strong capital position and holds an A- and BBB+ rating with S&P and Fitch respectively, reflecting the long-term strength of its business. For more information, please visit: https://www.smbc.aero/

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
With more than 185,000 global employees, RTX pushes 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, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact corporatepr@rtx.com.

 

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SOURCE RTX

FAQ

How many additional A320neo family aircraft did SMBC Aviation Capital order from RTX's Pratt & Whitney?

SMBC Aviation Capital exercised options for 22 firm orders of GTF-powered A320neo family aircraft, in addition to a 2021 order for 20 aircraft, bringing their total commitment to 42 firm A320neo family aircraft with GTF engines.

What is the total number of GTF-powered A320neo family aircraft in SMBC Aviation Capital's portfolio?

SMBC Aviation Capital currently manages a portfolio of 142 GTF-powered A320neo family aircraft.

When did SMBC Aviation Capital initially select Pratt & Whitney GTF engines for their A320neo family aircraft?

SMBC Aviation Capital initially selected 50 firm Pratt & Whitney GTF-powered A320neo family aircraft in 2019.

What are the benefits of the Pratt & Whitney GTF engines for RTX (NYSE: RTX) customers?

According to Pratt & Whitney, the GTF engines deliver economic and environmental benefits, being the most fuel-efficient and sustainable engine for single-aisle aircraft.