FARNBOROUGH AIR SHOW -- Etihad Airways, the national airlines of the United Arab Emirates, has finalized its purchase of 70 GEnx-1B engines to power the 35 Boeing 787 Dreamliner aircraft along with a multi-year OnPoint solution services agreement on the engines.
The engine order is valued at $1.8 billion (USD) and the OnPoint solution agreement is valued at $2.5B over its life. Etihad announced the engine selection and services agreement at the Paris Air Show in 2009.
"GE Aviation's GEnx engine will provide Etihad with unmatched fuel efficiency, reliability and performance for its Boeing 787 fleet and the services team will ensure the engine maintain this outstanding performance for years to come," said David Joyce, president and chief executive officer of GE Aviation.
Etihad Airways has achieved significant growth since it first took to the skies in November 2003, and today the airline maintains its position as the world's fastest-growing commercial airline. From its hub in Abu Dhabi, Etihad's fleet of 53 aircraft operates close to 1,000 flights a week, serving an international network of 63 destinations in 42 countries. Etihad has received a wide range of awards that reflect its position as the leading premium airline brand in the world, including "World's Leading Airline" at the World Travel Awards in 2009.
The GEnx is the fastest selling engine in GE's history with about 1,300 engines on order and more than 800 of these orders are for the GEnx-1B engine.
Based on the proven architecture of the GE90, the GEnx engine will succeed GE's CF6 engine. Compared to the CF6 engine, the GEnx-1B engine will offer 15 percent improved fuel efficiency, which translates to 15 percent less CO2. The engine achieves these improvements with aerodynamic advancements that enable higher pressures and improved energy extraction from a more compact core architecture that has significantly fewer parts.
The GEnx's innovative twin-annular pre-swirl, TAPS, combustor will dramatically reduce NOx gases as much as 60 percent below today's regulatory limits and other regulated gases as much as 90 percent. Based on the ratio of decibels to pounds of thrust, the GEnx will be the quietest engine GE has produced due to the large, more efficient fan blades that operate at a slower tip speed, resulting in about 30 percent lower noise levels. The GEnx will be the world's only jet engine with both a front fan case and fan blades made of carbon fiber composites.
IHI of Japan, Avio SpA. of Italy, Volvo Aero of Sweden, MTU of Germany, TechSpace Aero of Belgium, Snecma (SAFRAN Group) of France and Samsung Techwin of Korea are revenue-sharing participants in the GEnx program.
The GEnx is part of GE's "ecomagination" product portfolio--GE's commitment to develop new, cost-effective technologies that enhance customers' environmental and operating performance.
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 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.