AWAS has placed an order worth more than $500m with IAE International Aero Engines for V2500 engines that will power 30 Airbus A320s on order with the aircraft leasing company.

The aircraft are due to be delivered between 2011 and 2015 and will join AWAS’ fleet of 29 A320-family aircraft already powered by the V2500.

Frank Pray, president and chief executive officer of AWAS, said: ‘In the current environment, our customers are continuously conscious of lowering their operating costs.

‘The fuel-burn advantage offered by V2500 SelectOne is a huge benefit to airlines as the price of oil remains at record levels.’

The SelectOne build standard is claimed to deliver an additional one per cent fuel-burn advantage, along with a corresponding reduction in CO2 emissions. It will improve time-on-wing by up to 20 per cent, and demonstrate compliance with the most stringent CAEP/6 NOx standards. It is due to enter into service later this year.

The 22,000-33,000lb of thrust V2500 is available in seven different thrust settings to power the Airbus A319, A320 and A321-family of aircraft, as well as the A319 Corporate Jet. More than 5,000 V2500 engines are in service or on firm order.