EVENDALE, OHIO -- Iberia has selected GE's CF6-80E1 engines to power its fleet of eight firm Airbus A330 aircraft with an option for eight additional A330s. The engine order is valued at more than $260 million (USD) list price.
Iberia has also signed a 15-year OnPointSM solution agreement for the material and services to be used in the maintenance, repair and overhaul of the CF6 engine. The OnPoint agreement is valued at more than $200 million (USD) over the life of the contract.
"The CF6-80E1 engine incorporates the latest technology advances that will bring Iberia improve fuel efficient, reduce emissions, and increase engine time-on-wing," said Kevin McAllister, vice president and general manager of Global Sales at GE Aviation.
GE's CF6 engines have been among the most utilized and reliable in the industry. Powering more than 10 models of wide-body aircraft, the engine family has established an unparalleled record of reliability and has compiled more than 360 million flight-hours in service with close to 200 customers worldwide.
GE's 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.
Iberia is Spain's largest air transport group and the fourth largest in Europe. It is also the leading airline on routes between Europe and Latin America, with the most flights and destinations. Iberia's business is focused on three main activities: transport of passengers and cargo, aircraft maintenance and handling services in airports. A private company, Iberia is listed in the selective Ibex 35 index of the Spanish stock market and is the only European airline to have posted a profit for the past 12 years. Iberia is also a founding member of oneworld, the alliance of airlines around the globe, which together serves some 700 destinations, and offers the best connections.
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.