Fri, Jun 19, 2009
17 Deals And Partnerships For Engine Maker
With its unveiling of
the GEnx engine(cutaway view shown below), and its strategic
agreement with Mubadala Development Company, GE and its joint
ventures, CFM and Engine Alliance, announced more than $8 billion
in orders at this week’s Paris Air Show.
“Every two years, the global aviation industry arrives in
Paris to showcase its leading edge technologies and develop the
relationships which keep the world flying,” said John Rice,
Vice Chairman of GE. “Our GEnx engine is proof that
fuel-efficient, lower emissions innovation remains critical to
aviation customers – and the GE/Mubadala agreement further
emphasizes the growing global nature of the industry and
world-class companies who are increasing their aerospace
commitments.”
GE and its joint ventures, CFM International and the Engine
Alliance, announced 17 deals and partnerships during a four-day
span, totaling more than $8 billion. In these announcements, engine
orders reflect the list price while the service agreements values
reflect the life of the service contract. Highlights of these
announcements include:
- Etihad Airways, the national airline of the United Arab
Emirates, has selected the GEnx-1B engine to power its new fleet of
35 Boeing 787-9 aircraft and 10 GE90-115B-powered Boeing 777-300ER
aircraft. The total value of both engine orders is worth $2.2
billion (USD) list price. Additionally, the airline holds options
for 25 Boeing 787 aircraft and 10 Boeing 777-300ERs with purchase
rights for a further 10 Boeing 787 and five Boeing 777-300ER
aircraft.
- GE and Abu Dhabi’s Mubadala Development Company Thursday
signed an extensive agreement that expands GE’s global
network of engine maintenance, repair and overhaul providers in the
Middle East and further advances Mubadala’s plans to build a
global MRO network centered in Abu Dhabi. The announcement extends
the partnership between the two companies announced in 2008.
- GE and its joint ventures announced nine services agreements,
including comprehensive OnPointSM solution agreements, valued at $5
billion with the following airlines: Etihad, WestJet, Delta Air
Lines; Air Italy; Cebu Pacific, J-AIR; LAN, and TAM.
In addition to the $2.2 billion GE engine order from Etihad, GE
announced engine sales from across its product portfolio -
including orders from CFM International and the Engine Alliance -
with a list price value of more than $3 billion with the following
airlines: Etihad, Air Nostrum, Cebu Pacific, Air Austral, Atlantic
Airways, and Aigle Azur.
GE Aviation, an operating unit of General Electric Company,
provides commercial and military jet engines and components as well
as avionics, electric power, and mechanical systems for
aircraft.
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