Uploaded by FinancialNewsOnline on Nov 21, 2011
International Aero Engines has entered into an agreement that will enable the company to play a key role in American Airlines' fleet transformation.
As a part of this pact, IAE will provide American's future fleet of new Airbus A321 aircraft with its V2533-A5 engines.
Bob Reding, executive vice president of operations for American Airlines said, "American Airlines is pleased to select the IAE V2533-A5 engine to power our new A321 aircraft. This engine has some of the best fuel, noise, emission and operating efficiency in its class and will therefore allow us to achieve significant cost savings. IAE is a terrific company and we look forward to establishing a close partnership with them as we introduce the Airbus A321 into our fleet."
The financial terms and conditions have not been disclosed.
AMR (NYSE:AMR) has potential upside of 174.8% based on a current price of $1.74 and an average consensus analyst price target of $4.78.
As a part of this pact, IAE will provide American's future fleet of new Airbus A321 aircraft with its V2533-A5 engines.
Bob Reding, executive vice president of operations for American Airlines said, "American Airlines is pleased to select the IAE V2533-A5 engine to power our new A321 aircraft. This engine has some of the best fuel, noise, emission and operating efficiency in its class and will therefore allow us to achieve significant cost savings. IAE is a terrific company and we look forward to establishing a close partnership with them as we introduce the Airbus A321 into our fleet."
The financial terms and conditions have not been disclosed.
AMR (NYSE:AMR) has potential upside of 174.8% based on a current price of $1.74 and an average consensus analyst price target of $4.78.
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