June 18, 2013
LE BOURGET -- LATAM Airlines Group and GE Aviation signed a memorandum of understanding for a 10-year OnPointSM solution agreement for the maintenance, repair and overhaul of 120 CF6-80C2 engines that power its Boeing 767 aircraft. The OnPoint solution agreement is valued at more than $500 million (USD) over the life of the contract.
"GE created a tailored solution for LATAM Airlines Group that combines its OEM knowledge and services experience to ensure our airline will have the lowest operating costs for the CF6-80C2 engines," said Jose Maluf, Vice President of Fleet and Engines, LATAM Airline Group.
"LATAM Airlines Group is one of the largest CF6 operators in the Americas," said Kevin McAllister, vice president and general manager of Global Sales & Marketing at GE Aviation. "Under this OnPoint solution agreement, GE will provide optimized workscope and OEM material to lower LATAM's cost of ownership and keep its CF6 engines in top condition."
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.
LATAM Airlines Group is the new name given to LAN Airlines as a result of the association with TAM .The association creates one of the largest airline groups in the world in terms of network connections, providing passenger transport services to about 150 destinations in 22 countries and cargo services to about 169 destinations in 27 countries, with a fleet of 318 aircraft. In total LATAM Airlines Group has more than 51,000 employees. For more information, visit < a href="http://www.latamairlinesgroup.net">www.latamairlinesgroup.net.
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.
SMOnPoint is a service mark of General Electric Company.