FARNBOROUGH—As Pratt & Whitney works to restore market confidence in its PW1000G geared turbofan (GTF), the engine-maker has announced SMBC Aviation Capital—one of the largest lessors for GTF-powered Airbus A320neo-family aircraft—has exercised options for a further 22 firm orders.
The latest deal is supplemental to a 2021 order for 20 additional firm aircraft, bringing SMBC’s commitment to 42 firm PW1100G-powered A320neo-family aircraft. SMBC originally announced its initial selection for 50 firm Pratt & Whitney A320neo-family aircraft in 2019, and currently manages a portfolio of 142 GTF-powered A320neos.
The SMBC decision to firm up the Pratt-powered options appears to signal growing market belief in the engine-maker’s mid- to long-term ability to work its way through the contaminated powder metal (PM) issue that has dogged the PW1000G in recent years.
As of June, about 673 aircraft, or one-third of the 2,034 in-service aircraft powered by PW1000G GTFs, were parked or stored, the Aviation Week Fleet Discovery database shows. The total includes aircraft parked for several reasons and not just as part of Pratt's PM fleet-management plan that has hundreds of engines coming off-wing for inspections of life-limited parts—the most critical in any engine—to detect signs of cracking and prevent in-service failures.
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