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Borajet Airlines Signs GE OnPoint Solution and TRUEngine Agreements for CF34 Engines

January 08, 2015

EVENDALE, OH –- January 8, 2015—Borajet Airlines signed a five-year OnPointSM solution agreement with for the maintenance, repair and overhaul of the airline’s CF34-10E engines that power its five EMBRAER E190 aircraft. The agreement is valued at about more than $30 million (USD) over the life of the agreement.

Along with the OnPoint solution agreement, GE awarded Borajet Airlines its TRUEngine designation for its CF34-10E engine fleet.

“Borajet Airlines was the first to operate CF34-10E-powered EMBRAER E190 aircraft in Turkey, so it is fitting the airline is the first CF34-10E OnPoint solution agreement customer and the first airline in Turkey to be awarded TRUEngine status for its CF34-10E fleet,” said Kevin McAllister, president and CEO of GE Aviation’s Services organization.

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.

Launched in 2008, the TRUEngine designation provides assurance to owners, operators, and engine buyers that engines qualified for the TRUEngine designation have been maintained in the respective GE or CFM configuration. To qualify for the TRUEngine program, the engine configuration, overhaul practices, spare parts and repairs used to service an engine must comply with the respective GE- or CFM-issued engine manuals and other maintenance recommendations. The qualification is obtained through the customer's declaration of compliance and GE or CFM's verification of customer submitted maintenance records. There is no cost to participate. The program applies to CFM56*, CF6, GEnx and CF34 engines.

Independent studies show that engines maintained with OEM parts and repairs maintain as much as 50% higher residual values compared to engines that include non-OEM parts or repairs. In addition to enhanced marketability, the TRUEngine designation provides other valuable benefits, such as extended new part warranty, complimentary access to engine lease pool and optimized product support.

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.

SMOnPoint is a service mark of General Electric Company.

*CFM56 engines are a product of CFM International, GE’s 50/50 joint venture with Snecma (Safran).