February 15, 2012 | last updated June 1, 2012 12:36 pm

... Pratt's IAE venture, too, cashing in

Pratt & Whitney & Co.'s Connecticut jet-engine partnership is selling $600 million of its engines for airliners owned by one of China's largest leasing-finance companies.

ICBC Financial Leasing Co. Ltd., a unit of the Industrial and Commercial Bank of China Ltd., is buying $300 million of V2500 engines from International Aero Engines to power its fleet of 15 new Airbus A320 series aircraft, authorities said Wednesday.

Deliveries will run from January 2013 and to 2015.

ICBC Leasing agreed last summer to buy 42 A320 airliners to be operated in China and other overseas markets.

Aircraft powered by the V2500s will be flown both domestically, as well as be placed in other parts of the world.

Also, Sichuan Airlines will pay $300 million for V2500 engines to power its eight new A320s. The order includes a long-term aftermarket services agreement.

Deliveries will commence in January 2014 and continue into 2015.

IAE also includes Britain's Rolls-Royce, Germany's MTU Aero Engines and Japanese Aero Engines Corp.


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