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PRZOOM - /newswire/ -
Farnborough Air Show, Hampshire, United Kingdom, 2010/07/21 - GE Aviation along with its joint venture companies, CFM International and the Engine Alliance, have amassed engine and services orders valued at more than $16 billion (USD) at the 2010 Farnborough Air Show. NYSE: GE
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"GE Aviation is excited with the tremendous amount of engine and services orders that received at the 2010 Farnborough Air Show," said David Joyce, president and chief executive office of GE Aviation. "The level of activity at the show demonstrates that the aviation industry is beginning to emerge from the economic downturn."
GE Aviation and its joint companies garnered $11 billion in engine orders and $5 billion in long-term, high-margin service agreements. Highlights include:
• Emirates ordered 30 GE90-115B-powered Boeing 777-300ER aircraft valued at $2 billion list price. Emirates also signed a 12-year OnPointSM solution services agreement for the maintenance and overhaul of its GE90-115B engines worth more than $1 billion over its life.
• Air China selected the CFM56-5B engine for its 20 firm Airbus A320 aircraft, valued at $600 million U.S. at list price, including a long-term maintenance agreement with CFM.
• China Eastern Airlines selected the CFM56-5B engine to power 30 Airbus A320 aircraft, valued at approximately $600 million list price. China Eastern also signed a long-term maintenance agreement with CFM.
• GE Capital Aviation Services ordered CFM56-7B engines to power 40 Boeing 737-700/-800/-900 aircraft and CFM56-5B engines to power its 60 Airbus A320 aircraft. The combined engine order is valued at $1.4 billion at list price.
• Afriqiyah Airways signed a 10-year OnPointSM solution agreement for its CFM56-5B engine fleet, valued at more than $50 million over the life of the contract.
• Emirates selected the Engine Alliance GP7200 engines to power its 32 additional A380 aircraft announced last month. The total value of the engine and Fleet Management Agreement is approximately $4.8 billion over the life of the contract.
• TAAG (Angola Airlines) signed a 10-year OnPointSM solution services agreement for its 10 GE90 engines, valued at more than $50 million over the life of the agreement.
• Azul Linhas Aereas ordered five CF34-10E-powered EMBRAER 195 aircraft valued at more than $40M list price.
• TRIP Linhas Aereas has exercised its option to purchase two EMBRAER 190 aircraft powered by CF34-10E engines. The engine order is valued at $17M list price.
• LAN Airlines chose CFM56-5B engine to power 70 new Airbus A319/A320/A321 aircraft. The order is valued at $2 billion list price, including engines and a long-term maintenance agreement with CFM.
• Royal Jordanian has agreed to purchase six GEnx-1B engines to power its three additional Boeing 787 Dreamliner aircraft.
• Flybe ordered 35 CF34-8E-powered EMBRAER 175 valued at more than $360M list price. The airline also signed a 10-year OnPointSM solution services agreement for the new CF34-8E engines valued at more than $100M over the life of the agreement.
• Air Lease Corporation, the new venture by Steve Udvar-Hazy, ordered 60 CFM56-7B-powered Boeing 737 aircraft, valued at $840 million list price.
• Air Arabia selected the CFM56-5B engine to power its 44 Airbus A320 family aircraft. This new engine selection is valued at more than $620 million list price.
• RBS Aviation Capital ordered 43 CFM56-7B-powered Boeing Next-Generation 737 aircraft, valued at $600 million list price.
• Norwegian Air Shuttle ordered 15 CFM56-7B-powered Boeing 737-800s, valued at $210 million list price.
• Avolon, a new leasing company, ordered 12 CFM56-7B-powered Boeing 737-800 aircraft, with an engine value of $165 million list price.
• China's OKAY airlines orders 10 CFM56-7B-powered Boeing Next-generation 737 in an engine order valued at $140 million list price.
• China’s Spring Airlines selected CFM56-5B engines to power four new Airbus A320 family aircraft in an engine order valued at $70 million list price. The airline also extended its OnPointSM solution agreement with GE Aviation to include these engines as well as three additional leased aircraft. The total OnPoint solution agreement (covering all 37 aircraft) is valued at $300 million of the life of the contract.
• Air Austral ordered two GE90-115B-powered Boeing 777-200LR aircraft. The engine order is valued at more than $100 million list price.
• Qatar Airways converted two options for GE90-115B-powered Boeing 777-200LR aircraft into firm orders. The engine order is valued at more than $100 million list price.
• Republic Airways signed a letter of intent to purchase 24 CF34-10E-powered EMBRAER 190 aircraft. The CF34-10E engine order is valued at more than $190 million list price.
At Farnborough, GE Aviation launched its new myEnginesTM digital services, a suite of digital applications to help customers better manage their engine fleets and improve productivity. This is the latest announcement in GE’s growing $4 billion-per-year software and solutions business. LAN Airlines is the launch customer for myEngines digital services, which will cover LAN's entire fleet of CF6-80C2, GE90-115B, CFM56-5B and –5C engines.
GE Aviation also announced its OnPointSM Fuel & Carbon Solutions was added as the newest product in GE’s ecomagination portfolio. OnPoint Fuel and Carbon Solutions could help GE Aviation’s customers reduce their fuel spend by an average of three percent.
CFM International announced Czech Airlines (CSA), the flag carrier of the Czech Republic, achieved TRUEngine status for 22 CFM56-3 and 31 CFM-5B engines powering its fleet of Boeing 737-400/-500 and Airbus A319/A320/A321 single-aisle, respectively.
CFM International is a 50/50 joint company between Snecma (Safran group) and GE. The Engine Alliance is a 50/50 joint between between GE and Pratt & Whitney.
GE Aviation (ge.com/aviation), an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.
SMOnPoint is a service mark of General Electric Company.
TMmyEngines is a trade mark of General Electric Company.
Press Contact
Rick Kennedy, GE Aviation, Media Relations Manager
P: +1 513 243 3372, M: +1 513 607 0609, E: rick.l.kennedy[.]ge.com.
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