LONDON – Leasing company Aviation Capital Group (ACG), part of Tokyo Century Corporation, announced on Monday (May 9) that it has selected Pratt & Whitney GTF engines to power an additional 40 firm Airbus single-aisle aircraft, with the option to power an additional 20 A320neo family aircraft with P&W engines.
The newest contract brings ACG’s total to 80 firm and 27 option GTF-powered aircraft. The latest engine selection includes 20 firm Airbus A220 aircraft, plus 20 firm and 20 option A320neo family aircraft.
“The GTF engine continues to deliver impressive economic and environmental benefits to our customers. We are pleased to increase ACG’s commitment to additional GTF-powered aircraft”, said Steven C. Udvar-Hazy, Senior Vice President & Chief Procurement Officer at ACG.
The last aircraft were ordered by the lessor late last year. The contract with airbus included 60 aircraft: 20 Airbus A220s and 40 of the A320neo family including five A321XLRs.
Deliveries of these A220 aircraft are expected between 2023 and 2025, the A320neo aircraft are expected to reach carriers between 2022 and 2027, while the latest narrow-body product, the A321XLR, is expected to reach its first customer in late 2024.
“Leading lessors like ACG are recognizing the increasing value that GTF engines are giving operators. With fuel prices and environmental concerns on the rise, GTF engines’ lower fuel consumption and CO2 emissions are growing more attractive by the day”, said Rick Deurloo, Chief Commercial Officer at Pratt & Whitney.
ACG data on the website shows that the company owns, manages, and has on order 145 aircraft powered by Pratt & Whitney, including Airbus A220 and A320neo families with GTF engines, Airbus A320ceo family with V2500 engines, and Boeing 757 aircraft with PW2000 engines.
The Pratt & Whitney GTF engine is the only geared propulsion system delivering industry-leading sustainability benefits and dependable, world-class operating costs.
The GTF engine family reduces fuel consumption and carbon emissions by 16 to 20 percent and noise footprint by 75 percent, with NOx emissions 50 percent below the ICAO CAEP/6 regulation.
The engine’s revolutionary geared fan architecture is the foundation for more sustainable aviation technologies in the decades ahead, with advancements like the Pratt & Whitney GTF Advantage™ engine and beyond.
It’s worth adding that earlier this year Pratt & Whitney and Wizz Air celebrates the delivery of the 1000th GTF-powered Airbus A320neo family aircraft.
Aviation Capital Group (ACG) is a privately held, wholly-owned subsidiary of Tokyo Century Corporation, which conducts diversified leasing activities and offers various types of financing such as leasing, installment sales, and other financial services for IT-related equipment, industrial equipment, other equipment, and machinery and aircraft.
With more than 400 owned, managed, and leased commercial jet aircraft for about 85 airlines in some 40 countries, ACG is a proven provider of fleet strategy solutions to global airlines.
The operating lease platform drives our asset management services, which include managed aircraft portfolios and other aviation investor products.
The lessor is currently awaiting delivery of 90 aircraft: 75 Airbus (A220, A320neo, A321neo) and 15 Boeing (737 MAX).