Volaris Expands Aftermarket Agreement with IAE

Volaris, one of Mexico’s leading low-cost airlines, has amended its existing V-Services Fleet Hour Agreement with International Aero Engines (IAE) to add coverage for 26 incremental V2500 engines.

Volaris’ entire fleet of A320 family aircraft powered by V2500 engines are now covered by an IAE V-Services aftermarket agreement. The deal is valued at approximately US$400 million.

“IAE is delighted to expand our existing V-Services Fleet Hour Agreement with Volaris to cover its entire fleet of V2500 engines. This amended and expanded FHA demonstrates IAE’s commitment to the continued growth and success of Volaris in the years to come,” said IAE President Jon Beatty. “Our ability to provide our highly reliable and efficient V2500 engines along with V-Services aftermarket solutions for customers like Volaris has enabled them not only to succeed as a new airline, but also to continue to grow their presence across the entire continent.”

Volaris currently has 36 aircraft in their fleet, with an additional 12 on firm order, all powered by V2500 engines.

V-Services is a portfolio of services that applies the power of IAE’s OEM network to provide predictable maintenance costs, optimized engine performance and reliability. On an engine flight hour basis, Fleet Hour Agreements (FHA) provide operators with coverage for shop maintenance events, which reduces the risk of unscheduled maintenance and associated costs. Through FHA, operators have the ability to transfer any risks associated with their V2500 maintenance to IAE. Around 60% of the V2500 fleet in service are covered under the V-ServicesSM Fleet Hour Agreements (FHA).

As Mexico’s second largest airline, Volaris serves 62 routes connecting 25 cities in Mexico and 8 in the US, including Los Angeles, Oakland/San Francisco, San José, San Diego, and Fresno in California; Las Vegas, Nevada; Chicago, Illinois; and Orlando, Florida. The carrier started operations in March 2006 and has over 2,300 employees.

“Volaris is a growing low-cost carrier that focuses on containing costs in order to provide our customers with the lowest fares possible,” said Volaris CEO Enrique Beltranena. “Expanding our V-Services Fleet Hour Agreement with IAE to include all of the engines in our fleet significantly reduces cost and risk to Volaris while ensuring OEM-quality maintenance for our V2500 engines.”

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