Engine and Services Agreement Valued at More than $2 Billion (USD)
CINCINNATI, OH - Turkish Airlines (THY) has firmed options for five additional GE90-115B-powered Boeing 777-300ER aircraft.
THY has also signed a15-year OnPointSM solution agreement for the maintenance, repair and overhaul of its new GE90-115B engines on 20 Boeing 777-300ER fleet and extended an existing OnPoint solution agreement by five additional years for its GE90-115B engines that power 12 Boeing 777 aircraft. The total engine list price and OnPoint solution agreement are valued at more than $2 billion (USD).
Temel Kotil, Turkish Airlines' chief executive officer said, "The GE90 engines that Turkish Airlines currently operates have provided us with outstanding performance, durability and reliability. We look forward to expanding our GE90 engine fleet with these exceptional engines."
"With this order, THY will have a total of 32-GE90-powered Boeing 777s, and we are pleased to play a key role in the airline's fleet growth plans," said Muhammad Al-Lamadani, senior executive for European sales at GE Aviation.
With a fleet of more than 200 aircraft, THY is the major airline in Turkey and operates routes to the Americas, Europe, Middle East, Asia and Africa. The airline has the youngest fleet in Europe and will further reduce the age of its fleet with upcoming aircraft orders while continuously upgrading service quality. In 2012, THY carried about 39 million passengers and was named the 2013 Best Airline in Europe by Skytrax.
At 115,000 pounds of thrust, the GE90-115B engine includes such performance-enhancing features as three-dimensional aerodynamic (3-D aero) compressor and wide-chord, swept composite fan blades for greater efficiency. The dual annular combustor emits no more than 40 percent of the hydrocarbons allowed by today's international standards. In addition, today's GE90-115B engines have been enhanced to reduce fuel burn by 3.6 percent from the 2000 launch specifications.
More than 1,500 GE90-115B engines have been ordered by customers for their Boeing 777-300ERs, 777-200LRs and 777 Freighters.
Snecma of France and IHI Corporation of Japan are revenue-sharing participants in the GE90 program.
The GE90-115B engine is part of GE's "ecomagination" product portfolio -- GE's commitment to implementing innovative, cost-effective technologies that enhance the customers' environmental and operating performance.
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.
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.