June 19, 2013
LE BOURGET -- LATAM Airlines Group and GE Aviation signed a memorandum of understanding for a 12-year OnPointSM solution agreement for the maintenance, repair and overhaul of its GE90-110 engines that power its Boeing 777 Freighters. The OnPoint solution agreement is valued at more than $210 million (USD) over the life of the contract.
"GE was selected to provide services for these incremental GE90 engines based on the level of quality and support they have been providing on our existing GE90 OnPoint solution agreement and the competitive operating costs they provide," said Jose Maluf, VP Fleet and Engines, LATAM Airlines Group.
"GE is proud to provide high-quality MRO services to LATAM’s GE90 engines," said Kevin McAllister, vice president and general manager of Global Sales & Marketing at GE Aviation. "This agreement demonstrates LATAM’s commitment to OEM workscope and material to keep its engines in prime operating condition and expands on our MRO relationship that we built with LATAM maintaining its GE90-powered 777-300ER passenger aircraft."
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 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.