Pratt & Whitney has added a new lease-to-own option to its portfolio of spare engine solutions.

Customers can now lease a new or used P&WC engine and own it by the end of the lease term.

“We are expanding our Spare Engine Solutions portfolio because more and more of our customers seek new ways to conserve cash and spur operational efficiency,” said Pratt & Whitney Canada’s vice president of customer service Irene Makris.

“Our new leasing and ownership models serve customers who want alternatives that align with their individual situation. Through a constant dialogue with our customers, we are able to adapt our own business and introduce new solutions to meet those customer needs. These options also ensure their aircraft are kept in the air serving their missions and off the ground.”

The portfolio, launched in 2020, also includes flexible options such as long-term leasing and on-wing leasing, complementing the existing short-term rentals offering to customers who are looking to prioritise their spending, reduce costs, better plan their monthly expenses, and extend aircraft life, according to Pratt & Whitney.

“We have the largest global rental pool of more than one thousand Pratt & Whitney Canada engines to support customers and our Spare Engine Solutions cover all of our engine models – from regional turboprops and business jet engines to PT6A and helicopter engines,” added Makris. “Long-term leases and on-wing leases include all scheduled off-wing maintenance such as hot section inspections and overhauls.

“These two solutions can also be integrated into an existing or new Fleet Management Program (FMP), that provides access to the Pratt & Whitney Canada Global Service Network – providing a unique “one-stop-shop” solution.”