RTX's Pratt & Whitney and Air New Zealand Announce US$150 Million Expansion at Christchurch Engine Centre

Rhea-AI Summary

Pratt & Whitney, an RTX business, and Air New Zealand announced a US$150 million expansion of the Christchurch Engine Centre. The 14,000 square meter expansion will add maintenance, repair and overhaul (MRO) capabilities for GTF engines, with capacity for up to 140 engine overhauls annually by 2032. Construction begins this month, with the first GTF engine overhaul expected in Q4 2026. The project will create 200 high-value jobs in the Canterbury region. The facility will service both V2500 engines for A321ceo aircraft and PW1100G-JM GTF engines for A320/A321neo aircraft.

Positive

• US$150 million investment in facility expansion
• Addition of new GTF engine MRO capabilities
• Planned capacity for 140 engine overhauls annually by 2032
• Creation of 200 new high-value jobs
• Strategic positioning in Asia-Pacific's growing aviation market

Negative

• None.

News Market Reaction – RTX

+2.89%

+2.89% Session move

In the trading session that priced this news, RTX gained 2.89%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

New maintenance, repair and overhaul capabilities for the GTF engine expected in 2026

CHRISTCHURCH, New Zealand, Nov. 7, 2024 /PRNewswire/ -- Pratt & Whitney, an RTX (NYSE: RTX) business, and Air New Zealand today hosted a groundbreaking ceremony for a US$150 million, 14,000 square meter expansion of its Christchurch Engine Centre. The expansion will add maintenance, repair and overhaul (MRO) capabilities for the Pratt & Whitney GTF™ engine in New Zealand, with capacity for up to 140 GTF engine overhauls planned annually by 2032.

Construction of the facility expansion begins this month, and the first GTF engine overhaul is expected in the fourth quarter of 2026. The Christchurch Engine Centre was founded in 1948 by Air New Zealand. In 2001, the airline and Pratt & Whitney partnered to develop the joint venture, focusing on the maintenance, repair and overhaul of JT8D then V2500 engines. Today, the Christchurch Engine Centre employs more than 400 highly skilled staff and has overhauled more than 1,500 IAE International Aero Engines AG V2500 engines.

"This project between Air New Zealand and global aviation leader Pratt & Whitney marks a significant investment to New Zealand's economy, helps expand our aviation industrial capability, and adds 200 high value jobs into the Canterbury region," said Christopher Luxon, Prime Minister of New Zealand.

"The Christchurch Engine Centre has a proven track record of delivering exceptional performance and quality with a highly capable workforce," said Shane Eddy, president, Pratt & Whitney. "With the Asia-Pacific region projected to experience the highest aviation growth globally over the next 20 years, it is a strategic imperative for us to invest here and partner with Air New Zealand as we continue to expand the GTF MRO network in support of the growing fleet."

The GTF engine is the most fuel-efficient and sustainable engine for single aisle aircraft available today. GTF engines lower fuel consumption and carbon emissions up to 20% relative to previous generation aircraft and have a 75% smaller noise footprint. Around the world, GTF engines have saved airlines 2 billion gallons of fuel and 20 million metric tons of carbon emissions since entry into service in 2016.

Air New Zealand Chair Dame Therese Walsh said the 14,000 square meter expansion will allow the airline to service its V2500 engines powering the A321ceo aircraft and PW1100G-JM GTF engines on the A320/A321neo aircraft right here in Aotearoa.

"The introduction of new GTF repair capability will be completed in 2026, and the Christchurch Engine Centre will maintain, repair or overhaul both the V2500 and PW1100G-JM engines for many years to come," said Walsh. "As our fleet of Airbus aircraft continues to grow, with another four expected to arrive over the next three years, the importance of this facility to our airline also grows allowing us to continue to deliver on our purpose of connecting Kiwis with each other and the world."

"The investment is a real vote of confidence in the Christchurch Engine Centre and our city. The creation of 200 new jobs is great news for our local economy and further positions Christchurch as a world-class technology and aerospace hub," said Christchurch mayor Phil Mauger. "I can't wait to see the new facility take off."

Christchurch Engine Centre is committed to Pratt & Whitney's sustainability vision to protect the environment along with the health and safety of its employees and the community around it. The expansion of the facility will continue the journey of this commitment as well as bring in innovations and new initiatives for a greener business and greener world.

Read more about Pratt & Whitney's commitment to sustainability here.

About Air New Zealand
Air New Zealand's story started in 1940, first taking to the skies between Auckland and Sydney on a flying boat - a Short S30. Known for its warm Kiwi hospitality, today, the airline has operating aircraft ranging from Boeing 787-9 Dreamliners and Airbus A320s to ATRs and Q300s, offering customers comfort in the latest most efficient jets and turboprops. It's a modern fuel-efficient fleet with an average age of 8.7 years. Air New Zealand's global network of passenger and cargo services centres around New Zealand. In 2023, the airline flew more than 16 million passengers. Air New Zealand was named 2024 World's Safest Airline by the Australian rating service AirlineRatings.com, highlighting the airline's laser-focus on safety and won Best Corporate Reputation in New Zealand in 2023 – the 9th year in a row.

Air New Zealand has a well-connected domestic business, connecting customers and cargo to 20 different regions around New Zealand. Internationally, the airline has direct flights to major cities across Australia, Asia, the Pacific Islands and the US, and through its strong relationships with alliance partners, offers customers more choice and convenience to connect further afield to hundreds of destinations. Air New Zealand has a particular focus on sustainability and its Sustainability Framework helps guide the airline's efforts in tackling some of New Zealand's and the world's most complex challenges. Airpoints, Air New Zealand's loyalty programme, is seen as the most valuable loyalty programme in New Zealand with more than 4 million members. It allows members to earn Airpoints Dollars™ and Status Points for VIP benefits in the air and on the ground. Air New Zealand aircraft are proudly identified by its distinct tail livery of the Mangōpare, the Māori symbol of the hammerhead shark which represents strength, tenacity, and resilience.

About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. To learn more, visit www.prattwhitney.com. 

About RTX
With more than 185,000 global employees, RTX pushes the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact:
Air New Zealand media@airnz.co.nz or +64 21 747 320
Pratt & Whitney corporatepr@rtx.com

 

View original content:https://www.prnewswire.com/news-releases/rtxs-pratt--whitney-and-air-new-zealand-announce-us150-million-expansion-at-christchurch-engine-centre-302299226.html

SOURCE RTX

FAQ

What is the value of RTX's Christchurch Engine Centre expansion?

The expansion of RTX's Christchurch Engine Centre is valued at US$150 million.

When will RTX's Christchurch Engine Centre begin GTF engine overhauls?

The first GTF engine overhaul at the Christchurch Engine Centre is expected in the fourth quarter of 2026.

How many jobs will RTX's Christchurch Engine Centre expansion create?

The expansion will create 200 new high-value jobs in the Canterbury region.

What is the annual overhaul capacity target for RTX's expanded Christchurch facility?

The facility plans to achieve capacity for up to 140 GTF engine overhauls annually by 2032.