TransAsia Airways Firms Options for Additional Pratt & Whitney PurePower® PW1100G-JM Engines for Airbus A321neo Aircraft

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Nov 14, 2012, 07:45 ET

ZHUHAI, China, Nov. 14, 2012 /PRNewswire/ -- AIR SHOW CHINA -- TransAsia Airways has converted options for six A321neo aircraft with Pratt & Whitney PurePower® PW1100G-JM engines into firm orders. Pratt & Whitney will now power TransAsia's order of 12 firm A321neo aircraft. The deal includes a 10-year PureSolution^SM maintenance service agreement for 27 engines, including spare engines. Deliveries are scheduled to start in 2017. Pratt & Whitney is a division of United Technologies Corp. (NYSE:UTX).

"We are converting these options to firm orders to lock in the savings and value that TransAsia expects to get from the A321neo aircraft and PurePower engines," said Vincent Lin, Chairman of TransAsia Airways. "We are committed to lower operating costs through the use of products like the PurePower engine."

"We are very pleased that TransAsia selected Pratt & Whitney to power its A321neo aircraft fleet," said Todd Kallman, Pratt & Whitney Commercial Engines president. "Pratt & Whitney is very proud to serve TransAsia on the A321neo, and IAE continues to serve TransAsia on its current A321fleet."

Each TransAsia Airways Airbus A321neo aircraft will be powered by two PurePower PW1100G-JM engines with benefits including double-digit reductions in fuel burn, environmental emissions, engine noise and operating costs when compared with today's engines.

The PurePower engine uses an advanced gear system allowing the engine's fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core delivers the fuel efficiency and environmental benefits.

Established in 1951, TransAsia was the first private airline in Taiwan and has since grown to be one of the nation's three largest carriers. It is a publically listed company on the Taiwan Stock Exchange and is expanding rapidly to all the major Asian cities within a flight duration of nine hours including Australia, New Zealand and the Middle East. TransAsia Airways is headquartered in Taipei, Taiwan. For more information on TransAsia Airways, visit http://www.tna.com.tw/en/index.aspx.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.

This release includes "forward looking statements" concerning future business opportunities and other matters involving this engine that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include changes in the health of the global economy and the strength of end market demand in the aerospace industry; as well as company specific items including the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies including this engine, and new products including the engine discussed in this press release; and delays and disruption in delivery of materials and services from suppliers. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.

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