February 24, 2021
EVENDALE, OH -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) signed an agreement with GE Aviation to purchase GEnx-2B engines for its four Boeing 747-8 Freighters along with a 20-year TrueChoice Overhaul agreement, which covers the time and material required to overhaul the GEnx-2B engines. The agreements are valued at more than $800 million (USD) list price over the life of the service agreement.
“The 747-8F powered with GEnx engines gives us the best and most versatile widebody freighter in the market,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “Our partnership with GE Aviation supports our longstanding focus on leading edge technology. We look forward to continuing to provide world-class service to our customers.”
“GE Aviation is proud to provide the engines and services for Atlas Air’s new 747-8 Freighters and play a role in Atlas Air’s growing operation,” said Jason Tonich, Vice President and General Manager of Global Sales and Marketing at GE Aviation. “The GEnx-2B engines have proven their reliability and durability since entering service almost a decade ago, and GE Aviation is committed to providing full support for these engines long into the future.”
Customers have ordered more than 2,500 GEnx engines, making it the fastest selling high-thrust engine in GE’s history. With the most advanced technologies and materials, the GEnx has the highest reliability and utilization, lowest fuel burn and longest range capable of any engine in its thrust class.
The GEnx's innovative lean burning twin-annular pre-swirl (TAPS) combustor dramatically reduces NOx and other regulated gases below today's regulatory limits and enhances durability. As the world’s first commercial engine with both a carbon fiber composite front fan case and fan blades, the GEnx fan module is lighter in weight, corrosion resistant with less line maintenance and improved reliability, and is the quietest engine GE produces.
GEnx’s revenue-sharing participants are IHI Corporation of Japan, GKN Aerospace Engine Systems of the UK, MTU of Germany, TechSpace Aero (Safran) of Belgium, Safran Aircraft Engines of France and Samsung Techwin of Korea.
The TrueChoice suite of engine maintenance offerings incorporates an array of GE capabilities and customization across an engine's lifecycle. Each TrueChoice offering is underpinned by GE Aviation's data and analytic capabilities and experience to help reduce maintenance burden and service disruptions for customers.
About Atlas Air Worldwide
Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.
Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.
About GE Aviation
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings and is part of the world’s Digital Industrial Company with software-defined machines and solutions that are connected, responsive and predictive.