An Airbus A320-232 with V2500 engines
IAE International Aero Engines AG is a Zürich-registered joint venture manufacturing company founded in 1983 to develop an aircraft engine to address the 150-seat single aisle aircraft market. The collaboration, between four of the world’s leading aero engine manufacturers, produced the V2500 – the second most successful commercial jet engine program in production today in terms of volume, and the third most successful commercial jet engine program in aviation history.
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Current shareholders are:
Pratt & Whitney
Pratt & Whitney Aero Engines International GmbH
MTU Aero Engines
The Japanese Aero Engine Corporation, consisting of:
Kawasaki Heavy Industries
Ishikawajima-Harima Heavy Industries
Mitsubishi Heavy Industries
The original collaboration involved Pratt & Whitney of the United States, Rolls-Royce plc of the United Kingdom, Japanese Aero Engine Corporation of Japan and MTU Aero Engines of Germany. FiatAvio withdrew as a shareholder of the program early on, but the now-renamed Avio still remains as a supplier. The “V” product nomenclature remains as a legacy of the five original shareholders.
In October 2011, Rolls-Royce agreed to sell its 32.5% stake in the company to Pratt & Whitney’s parent company, United Technologies (UTC), giving UTC a combined equity ownership share of 49.5% (which is different from UTC’s total program share in the IAE collaboration, which stands at 61%). The transaction was completed on 29 June 2012.
Rolls-Royce remains a major supplier to IAE, and they and Pratt & Whitney proposed a new joint venture to develop engines for future generation mid-size aircraft (120-230 passengers). That collaboration was subsequently abandoned.
IAE had developed the abortive SuperFan for the Airbus A340. IAE’s current purpose is the development, production and aftermarket services of the V2500 aero engine family, which powers the Airbus A320 family and McDonnell Douglas MD-90 aircraft. IAE also supplies the V2500-E5 to power the Embraer KC-390 military transport aircraft, the first military application of this engine. 
The IAE V2500 turbofan is one of the most successful high bypass ra