Emirates Signs $13 Billion GE9X Services Agreement
Emirates airline signed a 12-year OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its new GE9X engines that will power its 150 Boeing 777X aircraft. The OnPoint solution agreement is valued at more than $13 billion (USD) over the life of the contract.
-- Part of finalization of Emirates' record 777X order
FARNBOROUGH AIR SHOW - Emirates airline signed a 12-year OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its new GE9X engines that will power its 150 Boeing 777X aircraft. The OnPoint solution agreement is valued at more than $13 billion (USD) over the life of the contract.
The OnPoint solution agreement is part of the finalization of Emirates airline's record commitment for 150 Boeing 777X twin-engine aircraft, powered by GE's new GE9X engine. The agreement for the 300 GE9X engines announced at the 2013 Dubai Air Show is worth more than $15 billion (USD) list price. With this agreement, GE Aviation secured its largest ever commercial jet engine award from an airline.
"The relationship between GE and Emirates continues to grow with the recent GE9X commitments," said David Joyce, president and CEO of GE Aviation. "The OnPoint solution agreement will allow us to provide comprehensive MRO support along with OEM parts and workscopes to ensure the engines remain in peak operating condition."
Emirates is the world's largest operator of the highly successful GE90-powered Boeing 777-300ERs, with 96 aircraft in fleet and another 56 pending delivery. Emirates also operates the largest fleet of A380s powered by the GP7200 engine produced by the Engine Alliance, a joint company of GE Aviation and Pratt & Whitney. But the relationship between GE Aviation and Emirates over the past decade has extended beyond the delivery and support of jet engines. GE has been integral to the construction of Emirates' expanding engine overhaul capability both in the Middle East and Asia.
OnPoint solutions are customized service agreements tailored to the operational and financial needs of each customer for any size fleet. These agreements are designed to help lower the customers' cost of ownership and maximize the use of their assets. Backed by GE's global support network, OnPoint services may include overhaul, on wing support, new and used serviceable parts, component repair, technology upgrades, engine leasing, integrated systems support and diagnostics and integrated systems.
GE 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.