Feb. 7 (Bloomberg) -- United Technologies Corp.’s Pratt & Whitney unit secured a deal to supply engines for Airbus Group NV planes ordered by BOC Aviation Pte, two people familiar with the plan said.
The order will be announced as early as next week at the Singapore Airshow, the people said, declining to be identified as the information isn’t public yet. The engines are for the 25 Airbus planes, including 12 A320 neos, BOC Aviation ordered in September, they said.
Airbus turned the A320neo with new engines into the fastest-selling airliner in commercial history, underscoring customers’ need to cut fuel bills that can comprise 40 percent of operating expenses. Lessors such as Singapore-based BOC Aviation, a unit of Bank of China Ltd., and Southeast Asian airlines are ordering more planes as economic growth in the region lifts air travel demand.
Pratt & Whitney said in an e-mail that it “does not comment on rumors or speculation.” The company has received orders for more than 5,000 geared turbofan engines from more than 50 airline and lessor customers, it said.
BOC Aviation has a portfolio of 226 owned and managed aircraft operated by airlines worldwide and another 100 planes on order, according to its website. The company’s fleet has an average age of less than four years.
The aircraft BOC Aviation ordered in September is for deliveries from 2015 to 2019, the lessor had said earlier.
--With assistance from Robert Wall in London. Editors: Anand Krishnamoorthy, Molly Schuetz