July 09, 2012
FARNBOROUGH AIR SHOW -- Jet Airways has signed an 10-year OnPointSM solution agreement with GE Aviation that expands the engine maintenance, repair and overhaul coverage to include new 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). Jet Airways currently operates 10 A330-200 aircraft powered by CF6-80E engines that are covered with an OnPoint solution agreement from GE.
"GE's OnPoint solution agreement is a comprehensive engine maintenance solution that maintains our engines to ensure the superior operational reliability for which Jet Airways is highly regarded," says Nikos Kardassis, Chief Executive Officer for Jet Airways. "Furthermore, its flexible structure and customized overhaul plan developed jointly with the airline enables us to accurately forecast and optimize cash flows."
"Jet Airways and GE have worked successfully together since the airline launched its first route in 1993 with a CFM56*-powered Boeing 737 aircraft," said Paul McElhinney, president and chief executive officer of GE Aviation's Services organization. "With this OnPoint solution agreement, GE will provide Jet Airways with high-quality maintenance and overhaul capabilities as well as the OEM parts to meet all of its service needs."
Based in Mumbai, India, Jet Airways has one of the youngest fleets in the world. Jet Airways, along with its low cost brand, JetKonnect, is the biggest airline in India and a modern jet fleet of GE90-powered Boeing 777-300ER, CFM56-powered Boeing 737 Next Generation and CF6-powered Airbus A330. It currently operates more than 600 flights a day to 55 Indian cities and centers and 22 international destinations in US, Europe, Middle East, SAARC and South East Asia.
OnPoint solutions are flexible, long-term commitments designed to meet customers' unique engine service needs. Backed by GE's world-class support, these solutions help lower our customers' cost-of-ownership and maximize the use of their assets. Available OnPoint services include overhaul, on wing support, new and used serviceable parts, component repair, technology upgrades, engine leasing and diagnostics.
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.
SMOnPoint is a service mark of General Electric Company.
*CFM56 engines are produced by CFM International, a 50/50 joint company between GE and Snecma (SAFRAN Group).