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On the Record with
MARK KING, PRESIDENT & CEO, INTERNATIONAL AERO ENGINES
The recovery is well under way at International Aero Engines, which
expects production of its 22,000 to 33,000-pounds-thrust V2500 turbofan
for the Airbus A320 family to hit a record 300 units next year.
"We're still cautious, with oil prices where they are and the security
situation around the world," IAE president & CEO Mark King told
Show News. But despite those factors deliveries of his engines
will still beat the previous best of 281 in 2001.
Driving the production line is a backlog of 1,000 engines (on firm
order) accumulated as airlines chose the V2500 over the CFM56 to
power their Airbus A320 family aircraft. (The two engines compete
only on that family; CFM is the exclusive powerplant on the Boeing
737).
This year V2500 engines will be fitted to 50% of the A320s rolling
out of the assembly halls in Toulouse and Hamburg. Next year that
figure will reach nearly 60%.
"Right now is the first time we've been to 50% of the Airbus production
line," said King. "Next year is the first time we'll exceed it."
Asked who is winning the war to power the A320 family, King responds
that deliveries are a more valid measure than orders—and just
look at the Airbus production line! Orders are difficult to track,
especially when an airline orders 100 A320s at the end of the year,
50 firm and 50 options, and then gradually exercises its options.
One large order can skew the whole year's statistics.
Nevertheless, King puts orders for V2500-powered aircraft so far
this year at about 150, of which two-thirds are new aircraft and
one-third are from airlines that specify V2500s on a leased airliner
(which well might be a used aircraft). Deliveries of new engines
this year will probably just top 200.
IAE claims a 57% market share for the V2500 since 1998, due in
large part to its popularity with low-cost carriers and new airlines
(it has added 30 new customers in the last three years). Three reasons
come to the fore, according to King: better fuel consumption than
the CFM56, better noise levels, and newer technology that is driving
a higher residual value for V2500-powered aircraft some 10 years
hence.
Looking ahead, King asserts that IAE's VISTA engine-of-the-future
program is active, not just talk. "We are exploring a number of
possibilities," he said, ranging from infusing new technology into
the installed base to monitoring the call for Boeing and Airbus
to develop replacements for their current product line. "We're looking
pretty hard at existing engines," he noted.
IAE has used technology to reduce maintenance costs of the V2500
by 30% over the last three years. Now that 40% of its airline fleet
is under pay-by-the-hour maintenance agreements, IAE has become
its own biggest single customer with a large incentive to reduce
maintenance costs even further. "So we can make a pretty good business
case for infusing VISTA technology," said King.
IAE is owned by Pratt & Whitney and Rolls-Royce (32.5% each),
Japanese Aero Engines Corp. (23%) and MTU (12%). IAE is in Hall
4, Stand F10 and Chalet B22-23.
—John Morris
| NOTEWORTHY |
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The 2,500th V2500 will be delivered in November this year,
according to International Aero Engines.
Since the first delivery in 1989, the V2500 has evolved into
a family of seven thrust settings from 22,000 to 33,000-pounds-thrust
to power the Airbus A319, A320 and A321 family of aircraft
as well as the Airbus A319 Corporate Jet.
Major competitions are under way right now for another 50-60
aircraft, mostly for low-cost carriers, according to IAE president
& CEO Mark King.
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