13th Jul 2016 12:15
LONDON (Alliance News) - Central and Eastern Europe-focused low-cost airline Wizz Air Holdings PLC Wednesday said it has agreed with Pratt & Whitney to equip its 110 Airbus A321neo aircraft with Pratt & Whitney's PurePower Geared Turbofan engines.
Delivieries of the A321neo will start in 2019, Wizz Air said.
The agreement is worth over USD2.5 billion at current list prices and is included in the price payable to Airbus SAS under the A321neo purchase agreement Wizz Air signed in 2015.
"Following a detailed review process we concluded that the Geared Turbofan engine delivers the best value proposition as well as maximum fuel and operational efficiency. These metrics will translate directly into reduced operating costs for our business. While we already have a very low cost base, our focus is to be ever more efficient to offer the lowest fares for our customers while driving strong returns for shareholders.," said Chief Executive Officer Jozsef Varadi in a statement.
Shares in Wizz Air were up 0.4% at 1,629.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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