$40 Billion for GE and CFM International at Dubai Show
--Record air show for GE Aviation includes 450 new GE9X engines for Boeing 777X
--Dubai success to ultimately grow GE Aviation's $114 billion backlog
DUBAI - GE Aviation and CFM International received commitments for engines and services valued at $40 billion (USD list price) at this week's Dubai Air Show.
These commitments will ultimately translate into purchase orders that will grow GE Aviation's equipment and services backlog, which reached $114 billion by the end of this year's third quarter. This total includes an equipment (mostly jet engines) backlog of $28.3 billion – which increased 31 percent over the past year.
Among GE's highlights at the Dubai show was Emirates airlines' commitment for 150 Boeing 777X twin-engine aircraft and 300 GE9X engines. This $11 billion engine commitment represents GE Aviation's largest ever commercial jet engine award from an airline.
Meanwhile, CFM International, the 50/50 joint company of GE and Snecma (Safran), is experiencing the fastest engine orders ramp up in commercial aviation with its LEAP engine for narrow-body aircraft. With more than 450 LEAP orders at the Dubai show, total orders and commitments for the LEAP engine have surpassed 5,800 engines.
"Year after year, GE has made enormous investments in new technologies that are driving our sales success," said David Joyce, president and CEO of GE Aviation. "From ceramic matrix composites unique to the propulsion industry to the highest pressure ratios in our compressors, GE is developing a portfolio of reliable technologies that create new levels of operating efficiencies that our airline customers need."
The installed base of commercial engines in service for GE and its venture companies will grow from today's 32,000 to more than 46,000 by 2020. And GE Aviation is ready. To handle the production growth, the company this year has opened or broken ground on three new manufacturing plants in the United States. Between 2013 and 2017, GE Aviation will invest $3.5 billion in new plant and equipment for its expanding global network of operations.
In addition to the Emirates order, other GE/CFM highlights at the Dubai show included:
*Pegasus Airlines: $4.3 billion commitment for 200 CFM LEAP engines and services for 100 Airbus A320neo aircraft.
*Etihad Airways: $11 billion commitment for 112 GE engines (GE9X, GEnx, GE90) and services for 25 777X aircraft, 30 787s, and one 777 aircraft. Also, $2.8 billion order for 52 CFM LEAP engines and services for 26 Airbus A321neo aircraft.
*Qatar Airways: $3.8B commitment for 100 GE9X engines for 50 777X aircraft.
*Lufthansa: $610 million commitment for CFM CFM56 engines for 30 Airbus A320 aircraft.
*flydubia: Commitments for 200 CFM LEAP engines, 22 CFM56 engines, and services for Boeing 737MAX and 737-800 aircraft.
*Ethiopian Airlines: Engine services award for 32 GE90 engines.
*Turkish Airlines: $2 billion commitment for 10 GE90 engines and services for five 777 aircraft.
*TUI airlines: Commitment for four GEnx engines and services for two 787 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.