The Volga-Dnepr Group signed a Memorandum of Understanding (MOU) for 20 additional GEnx-2B powered Boeing 747-8 Freighters. This order brings Volga-Dnepr’s total GEnx-2B-powered Boeing 747-8 Freighter fleet to 26 aircraft. The additional engine order is valued at more than $1.8 billion list price.

“This additional order for GEnx-2B-powered Boeing 747-8 Freighter demonstrates the confidence the Volga-Dnepr Group has in the engine and aircraft,” said David Joyce, president and CEO at GE Aviation. “We look forward to playing an important role in Volga-Dnepr Group’s fleet renewal efforts.”

The GEnx engine family is the fastest-selling engine in GE Aviation history with close to 1,600 engines on order. Almost 400 GEnx-2B engines are in service, and the fleet has accumulated 2.6 million flight hours and 440,000 cycles with outstanding performance. Compared to GE's CF6 engine, the GEnx engine offers up to 15 percent better fuel consumption, which translates to 15 percent less CO2. The GEnx's innovative twin-annular pre-swirl (TAPS) combustor dramatically reduces NOx gases as much as 55 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 is the quietest engine GE produces due to the large, more efficient fan blades that operate at a slower tip speed, resulting in about 40 percent lower noise levels.

GEnx revenue-sharing participants are IHI Corporation of Japan, GKN Aerospace Engine Systems of Sweden, MTU of Germany, TechSpace Aero of Belgium, Snecma (SAFRAN Group) of France and Samsung Techwin of Korea.

The GEnx 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.

Volga-Dnepr Group has been successfully representing the Russian airfreight industry in the international market for more than 20 years. The group is the world leader in the unique, oversize and heavy cargo market and includes two leading airline cargo companies - Volga-Dnepr Airlines and AirBridgeCargo Airlines - which have been honored with the prestigious "Wings of Russia" national aviation award on many occasions. The group employs 3,500 staff worldwide and has representative offices in nine countries. For more information, visit www.volga-dnepr.com.

GE Aviation is an operating unit of GE (NYSE: GE), and a world-leading provider of jet engines, components, avionics, digital and integrated systems for commercial and military aircraft. GE Aviation has a global service network to support these offerings.