Etihad Airways Orders $3.9 Billion in GE Engines & Services for Boeing 777 & 787 Aircraft
LE BOURGET -- 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.
Etihad Airways has also signed a multi-year OnPoint solution agreement with GE Aviation for the maintenance, repair and overhaul of its entire firm GEnx and GE90 engine fleet. The OnPoint solution agreement is valued at more than $1.7 billion (USD) over the life of the agreement.
Aircraft delivery is scheduled to begin late next year for the Boeing 777-300ER aircraft and in 2015 for the Boeing 787 aircraft.
James Hogan, Etihad Airways' chief executive officer, said: "This order marks a significant milestone in our relationship with GE. The GEnx and GE90 engines not only are more fuel efficient, but also are among two of the most technologically advanced products currently available. The GEnx-powered Boeing 787 and GE90-115B-powered Boeing 777-300ER aircraft will help us to maintain one of the youngest and fuel efficient fleets in the sky."
"We are extremely honored that Etihad Airways has chosen the GEnx and GE90-115B engines to power its Boeing 787 and 777-300ER aircraft," said David Joyce, president and CEO of GE Aviation. "We look forward to enhancing Etihad's fleet with the unmatched reliability, performance, and maintenance benefits these two engines will provide, as well as providing the airline with world-class service and support for years to come."
Etihad Airways has achieved significant growth since it first took to the skies in November 2003 and today maintains its position as the world's fastest-growing commercial airline.
From its hub in Abu Dhabi, Etihad operates one of youngest and most environmentally efficient fleets in the world, which is set to grow to 52 by the end of 2009. The award-winning airline also aims to increase its passenger numbers this year to seven million, an increase of 15 per cent, while also launching into new markets and further developing its global flight network.
With more than 1,100 engines sold to date, the GEnx is the fastest-selling engine in GE's history. Based on the proven architecture of the GE90, the GEnx will succeed GE's CF6 engine. Compared to the CF6, the GEnx will offer 15 percent improved fuel efficiency, which translates into 15 percent less CO2. It is designed to stay on wing 30 percent longer than the CF6, while using 30 percent fewer parts, greatly reducing maintenance.
The GEnx emissions will be as much as 95 percent below current regulatory limits. The engine will also be the quietest one that GE has produced, based on a pound-of-thrust-per-decibel ratio. As the world's only jet engine with both a front fan case and fan blades made of carbon fiber composites, the GEnx will also have greater durability, better performance retention as well as lower operating costs than comparable engines in its class.
IHI of Japan, TechSpace Aero of Belgium, Avio SpA. of Italy, Volvo Aero of Sweden and Samsung Techwin of Korea are revenue-sharing participants in the GEnx program.
The GE90-115B engine, the world's largest, highest-thrust commercial engine, powers the Boeing 777-200LR, -300ER and Freighter aircraft. The engine is one of the quietest per pound of thrust. The engine also exhibits superior fuel burn and lower overall emissions due in part to its improved combustor.
The combustor meets all current international emissions standards with margin, including no more than 40 percent of the allowable hydrocarbons. This engine has proven to be tremendously popular with customers around the world, with close to 1,000 engines being sold. The GE90-115B engine has logged more than two million flight hours since entering service in 2004.
Snecma of France, Avio SpA. of Italy, and IHI of Japan are revenue-sharing participants in the GE90 program.
The GE90-115B and GEnx engines are part of GE's "ecomagination" product portfolio -- GE's commitment to develop new, cost-effective technologies that enhance customers' fuel efficiencies and operating performance.
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 General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as integrated digital, electric power and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings.