International Aero Engines (IAE) has signed an agreement with Vietnam Aircraft Leasing Company (VALC) to provide 20 V2533-A5 engines to power 10 Airbus A321-200 aircraft, on order.
The contract, valued at more than $184 million with deliveries being made in 2012 and 2013, was previously announced during Farnborough Airshow in July 2010. The signing ceremony took place at the Hilton Hanoi Opera Hotel, Hanoi, Vietnam.
The aircraft will be operated by Vietnam Airlines and used on major domestic routes between Hanoi and Ho Chi Minh City and on regional routes serving Hong Kong, Taipei, Bangkok and Singapore.
IAE Executive Vice President Customer Business Jim Guiliano said: “We are proud to be the first major engine manufacturer selected by VALC; the very first aircraft leasing company in Vietnam. I believe these aircraft will be the beginning of strong, steady growth for the VALC fleet.”
IAE is a multinational aero engine consortium. Shareholders comprise of Pratt & Whitney (NYSE: UTX), Rolls-Royce (RR.L), Japanese Aero Engines Corporation and MTU Aero Engines.
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