Etihad Airways Upgrades to V2500(R) SelectTwo(TM)

EAST HARTFORD, CT--(Marketwired - Jul 24, 2013) - Etihad Airways has signed an agreement with IAE International Aero Engines AG to upgrade the airline's current and future fleet of 35 V2500 engine-powered Airbus A320 family of aircraft to the V2500 SelectTwo engine standard.

The United Arab Emirates flag carrier will purchase 73 V2500 SelectTwo engine upgrade kits, which also makes provision for spare engines.

An upgrade option for the V2500 SelectOne™ engine, the main advantage of SelectTwo is improved fuel burn.

Etihad Airways' President and Chief Executive Officer, James Hogan, said, "The V2500 engine has played an important role in our Airbus A320 type operations, and SelectTwo is the latest example of how IAE strives for new solutions that add value to our fleet, whilst making our fuel-burn more efficient."

IAE President Jon Beatty said, "IAE is dedicated to continually improving the V2500 engine. Etihad Airways' decision to install SelectTwo is further evidence of the airline's confidence in the performance and reliability of the V2500 engine. Etihad Airways took delivery of their first V2500 engine-powered aircraft in 2007, and we look forward to a long relationship with them."

About Etihad Airways Etihad Airways, the national airline of the United Arab Emirates, began operations in 2003, and in 2012 carried 10.3 million passengers. From its hub at Abu Dhabi International Airport, Etihad Airways serves 94 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and the Americas, with a fleet of 77 Airbus and Boeing aircraft, and over 90 aircraft on firm order, including 41 Boeing 787-9 Dreamliners and 10 Airbus A380s, the world's largest passenger aircraft. Etihad Airways also holds equity investments in airberlin, Air Seychelles, Virgin Australia, Aer Lingus and, subject to regulatory approval, will acquire 24 percent of India's Jet Airways. For more information, please visit: www.etihad.com

About IAE: IAE is a multinational aero engine consortium whose shareholders are comprised of Pratt & Whitney ( NYSE : UTX ), Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines. To date, more than 5,700 V2500® engines have been delivered and more than 1,600 more engines are on order with close to 200 customers around the world.

This release includes "forward looking statements" concerning anticipated business opportunities that are subject to risks and uncertainties, including with regard to the programs described in this release. Risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the effect of economic conditions in the markets in which we operate, including financial market conditions, and fluctuation in interest rates, commodity prices and foreign currency exchange rates; levels of end market demand in the aerospace industry, including levels of demand for the new aircraft described in this release; levels of air travel; financial difficulties of commercial airlines; the financial condition of suppliers; and challenges in the design, development, production and support of advanced technologies and new products and services. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's 10-K, 10-Q and other reports filed with the SEC.