June 17, 2013
LE BOURGET -- Xiamen Airlines signed a Letter of Intent (LOI) with GE Aviation to select GEnx-1B engines to power its six Boeing 787 Dreamliners. The LOI also includes a 10-year OnPointSM solution agreement for GE to provide maintenance, repair and overhaul of the airline’s GEnx fleet. The list price of the engine order and the OnPoint solution agreement are valued at more than $560 million (USD) over the life of the engines. Delivery of the aircraft will begin next year.
"We selected the GEnx-1B engine for its excellent fuel efficiency, reduced emissions and lower noise levels," said Che Shanglun, Chairman and President of Xiamen Airlines. "With the engine's outstanding economy and operational performance, we look forward to the GEnx-powered Boeing 787 Dreamliners joining our fleet and helping us with our continued profitability."
"We are very honored that Xiamen Airlines has selected GEnx engines to power its new Boeing 787 Dreamliner fleet," said Kevin McAllister, vice president and general manager of Global Sales & Marketing at GE Aviation. "Xiamen Airlines has been a long-term customer, and the GEnx selection will give us more opportunities to demonstrate the outstanding performance of our products and services."
The GEnx-1B engine is the best-selling engine on the Boeing 787 Dreamliner. The engine has accumulated more than 60,000 flight hours and more than 14,000 cycles since entering service in 2012. Almost 850 GEnx-1B engines have been sold to more than 30 customers.
The GEnx engine family is the fastest-selling engine in GE Aviation history with more than 1,300 engines on order. Compared to GE's CF6 engine, the GEnx engine offers up to 15 percent better fuel consumption, which translates to 15 percent less CO2. The GEnx's innovative twin-annular pre-swirl (TAPS) combustor dramatically reduces NOx gases as much as 55 percent below today's regulatory limits and other regulated gases as much as 90 percent. Based on the ratio of decibels to pounds of thrust, the GEnx is the quietest engine GE produces due to the large, more efficient fan blades that operate at slower tip speed, resulting in about 40 percent lower noise levels.
The GEnx is part of GE's "ecomagination" product portfolio - GE's business strategy to develop new, cost-effective technologies that enhance customers' environmental and operating performance.
Revenue-sharing participants on the GEnx are IHI Corporation of Japan, Avio SpA. of Italy, GKN Aerospace Engine Systems of Sweden, MTU of Germany, TechSpace Aero of Belgium, Snecma (SAFRAN Group) of France and Samsung Techwin of Korea.
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.
Xiamen Airlines is the only Chinese airline that operates an all Boeing fleet to more than 210 routes in 50+ major cities in Southeast and Northeast Asia. The airline has become the only airline in China that has maintained an outstanding performance of profit for 25 consecutive years. For more information, visit http://www.xiamenair.com/cn/en/.
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet, turboprop and turboshaft engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.