July 12, 2012
FARNBOROUGH AIR SHOW -- Orders for engines and services from GE and its joint venture CFM International at the 2012 Farnborough Airshow totaled more than $17.5 billion (USD).
"The results from this year's show are proof that GE Aviation and CFM International are on the right technology paths with our engine programs and service offerings," said David Joyce, president and chief executive officer of GE Aviation. "Our customers are embracing our product with their orders and we look forward to delivering on these significant commitments."
"Despite today's economic environment, airlines are looking for newer, more fuel efficient aircraft," said Norman CT Liu, president and chief executive officer of GE Capital Aviation Service (GECAS). "Our strategic orders the last two years position GECAS well to meet that demand."
Highlights from the 2012 Farnborough Airshow include:
United Continental Holdings announced a firm order for 100 advanced LEAP-1B-powered Boeing 737 MAX airplanes and ordered 50 additional CFM56-7B-powered Boeing Next-Generation 737-900ER aircraft. The combined value of the engine order, along with a long-term service agreement, is approximately $5.0 billion U.S. at list price.
GECAS announced commitments for 75 LEAP-1B-powered Boeing 737 MAX aircraft, in addition to an additional 25 CFM56-7B-powered Boeing Next-Generation 737 aircraft. The engine commitments are valued at $2.4 billion list price.
airberlin selected the GEnx-1B engine to power its fleet of 15 Boeing 787-8 Dreamliners. The airline also signed a 12-year OnPointSM solution agreement for these GEnx engines. The engine and OnPoint solution agreement are valued at more than $1.2 billion over the life of the contract.
Jet Airways signed a 10-year OnPoint solution agreement to include its CF6-80E engines that will power nine additional Airbus A330 aircraft that the carrier will begin inducting later this year. The agreement is valued at $150 million (USD) over its life of agreement.
EVA Airways signed a 12-year OnPoint solution services agreement for its GE90-115B engines that will power its seven Boeing 777-300ER aircraft ordered in May. The contract is valued at about $300 million (USD) over its life of agreement.
The Royal Air Force of Oman purchased F110-GE-129D engines to power its 12 new Lockheed Martin advanced F-16 Block 50 aircraft.
Virgin Australia finalized a firm order for 23 advanced LEAP-1B-powered Boeing 737 MAX 8 airplanes.
Air Lease Corporation ordered 60 LEAP-1B-powered Boeing 737 MAX 8 and 15 737 MAX 9 aircraft. The engine order is valued at approximately $1.9 billion U.S. at list price.
GE Aviation and Lockheed Martin announced a multi-million dollar agreement for the communication, navigation and air traffic management data link for the C-130J aircraft in the Block 8.1 configuration.
Southwest Airlines signed a 20-year OnPoint solution agreement with GE Aviation for its 78 Boeing 737-800 Next Gen aircraft. The OnPoint agreement is valued at more than $1 billion (USD) over the life of the agreement.
Regional Compagnie Aerienne Europeenne, a subsidiary of Air France-KLM Group, signed a 15-year OnPoint solution agreement for its CF34-8E and -10E engines that power its 16 EMBRAER E170 and 10 E190 aircraft. The OnPoint agreement is valued at more than $230 million (USD) over the life of the contract.
JetBlue Airways signed a 15-year OnPoint solution agreement for its CF34-10E engines that power its EMBRAER 190 fleet.
Aviation Capital Group (ACG) selected CFM International's advanced LEAP-1A engine to power its 18 AirbusA320neo aircraft. The firm engine order is valued at $450 million U.S. at list price.
Copa Airlines signed a 15-year OnPointSM solution agreement for its 112 CFM56-7B engines that power its Boeing 737-700 and -800 Next Gen aircraft. The OnPoint agreement is valued at more than $340 million (USD) over the life of the agreement.
Avolon announced plans to order LEAP-1B engines to power 15 Boeing 737 MAX aircraft, along with CFM56-7BE engines to power 10 Next-Generation 737s. The total engine value is approximately $585 million U.S. at list price.
Sun Country Airlines signed a 5-year OnPoint solution agreement for its 28 CFM56-7B engines that power its Boeing 737-700 and -800 aircraft. The OnPoint agreement is valued at more than $60 million (USD) over the life of the agreement.
Volga-Dnepr Group signed a 15-year OnPoint solution agreement for its 22 GEnx-2B engines that power its Boeing 747-8 Freighter fleet. The OnPoint agreement is valued at more than $300 million over the life of the contract.
China's Juneyao Airlines selected CFM International's CFM56-5B engine to power five new Airbus A321 aircraft. The engine order is valued at more than $100 million U.S. at list price.
Azul Brazilian Airlines is adding 42 CF34-10E engines to its existing 15-year OnPoint solution services agreement. The value of the OnPoint solution for the additional engines is more than $600 million (USD) over the life of the agreement.
CFM International launched a unique new product offering for leasing companies called Portable Maintenance for Lessors (PML) and signed Memorandums of Understanding (MOUs) with GECAS, SMBC Aviation Capital and Engine Lease Finance Corporate. The final agreement should be complete by year-end.
TRUEngine designations were awarded to:
- Turkish Airlines for its CF6 engine fleet that powers its seven Airbus CF6-80E-powered A330-200 aircraft.
-Oman Air for its 33 CFM56-7B engines fleet Next-Generation 737 aircraft.
-Apollo Aviation Group for its mix of 21 CFM56 engines.
-GOL Linhas Aéreas Inteligentes S.A. for its CFM56-7B engines that power the Boeing 737-700/-800 aircraft.
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.
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,710 owned and serviced aircraft with approximately 235 airlines in over 75 countries. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity solutions including spare engine leasing, spare parts financing and management. GECAS, a unit of GE Capital, has offices in 24 cities around the world.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.
SMOnPoint is a service mark of General Electric Company.