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Share Price Information for easyJet (EZJ)

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Share Price: 510.20
Bid: 514.40
Ask: 515.20
Change: -31.40 (-5.80%)
Spread: 0.80 (0.156%)
Open: 550.20
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Low: 500.00
Prev. Close: 541.60
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AIRSHOW-Pratt offers improved A320neo engines in battle with CFM

Sun, 13th Jul 2014 17:11

LONDON, July 13 (Reuters) - Engine maker Pratt & Whitneyunveiled an enhancement to its engine for the Airbus A320neo plane on Sunday that it says will improve fuel burnefficiency by a further 2 percent, stepping up the battle withrival CFM.

Pratt, a division of United Technologies Corp, saidthe new PW1100G-JM engine, dubbed the Advantage, would bereleased in 2019 and that it was already offering it to airlinecustomers.

Pratt competes with CFM, a joint venture between Safran and GE, on engines for the A320neo. Airlinesusually decide at a later date what engine to put in planes theyhave ordered.

CFM announced on Sunday an order worth $2.6 billion at listprices to provide engines for 100 Airbus A320neo jets thatAmerican Airlines has on order.

"Under the wing, we need to differentiate ourselves andthat's what we're doing here," David Brantner, president ofPratt & Whitney Commercial Engines, told journalists ahead ofthe Farnborough air show that begins on Monday.

When asked about whether Pratt would be looking to try towin easyJet and Ryanair away from their regularengine supplier CFM, he said Pratt would make an offer, butwould not do so at any price.

"We'll take a shot at those customers, and if the economicsare right, we'll come but we're not going to give that away," hesaid.

"We'll get our fair share of orders, they'll get theirs," headded of CFM. (Reporting by Victoria Bryan; Editing by Mark Potter)

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