Volga-Dnepr Group Signs OnPoint Solution Agreement for GEnx Engine Fleet

July 11, 2012

FARNBOROUGH AIR SHOW -- Volga-Dnepr Group has signed a 15-year OnPointSM solution agreement for maintenance, repair and overhaul of 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. AirBridgeCargo Airlines, a subsidiary of Volga-Dnepr Group, operates the freighters.

"Volga-Dnepr Group is pleased to continue our long history of cooperation with GE Aviation," said Alexey Isaikin, President, Volga-Dnepr Group.

"Volga-Dnepr Group has been a valued customer of GE Aviation for many years, operating the CF6-50, the CF6-80C and now the GEnx engines. GE Aviation has successfully provided engine services to Volga-Dnepr. Volga-Dnepr Group's OnPoint solution agreement will ensure their engines receive high quality, OEM parts and service to maintain its outstanding performance," said Muhammad Al-Lamadani, Senior Executive of European Sales at GE Aviation.

Volga-Dnepr Group has been successfully representing the Russian airfreight industry in the international market for more than 20 years. The group is the world leader in the unique, oversize and heavy cargo market and includes two leading airline cargo companies - Volga-Dnepr Airlines and AirBridgeCargo Airlines - which have been honored with the prestigious "Wings of Russia" national aviation award on many occasions. The group employs 3,000 staff worldwide and has representative offices in nine countries.

GE Aviation and Volga-Dnepr Group are evaluating opportunities in engine services cooperation for the Russia-CIS Market.

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 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.