GE Aviation lands $10 billion worth of deals at Dubai Air Show
15 Nov 2007
Dubai: Two days into the Dubai Air Show, GE Aviation has signed almost $10 billion worth of engine and service deals. This, according to GE officials, is a major move ahead for the aerospace major in a region where it had almost no business just 15 years ago.
With the company becoming the engine and engine service supplier of choice among several regional MidEast airlines, assembly workers of CFM56 engines in Evendale and GE-90 and GEnx engines in Peebles will remain busy for years to come, according to GE Aviation officials.
GE Avaition''s business expansion has come on the back of an aviation boom in the MidEast, as carriers now begin to expand services to various parts of the globe.
The Dubai Air Show is set to close on Thursday.
At the air show, GE Aviation directly landed business about $7.7 billion including:
A $1.4 billion deal with Saudi Arabian Airlines for overhaul support services on the carrier''s GE90, CF6 and CF34 engines as well as to supply materials for 14 years.
A $770 million deal with Dubai Aerospace for GE90-115B engines to power 10 Boeing 777-300ER and GEnx engines for five Boeing 747-8 freighters.
A 12-year service contract for maintenance, overhaul and repair of GEnx engines for 12 Boeing 787s with carrier Royal Jordanian. The value of the pact remains undisclosed.
A deal with Qatar Airways for $1.2 billion worth of engines, including GEnx engines to power its 30 Boeing 787s and GE90-115Bs for five Boeing 777 freighters.
Also with Qatar Airways a $2.5 billion deal for a 15-year service contract to provide maintenance and overhaul work.
A deal with Emirates for $800 million worth of GP7200 engines to power its 12 Airbus A380 aircraft.
A deal with Cathay Pacific Airways for $1 billion worth of GEnx and GE90 engines to power 10 Boeing 747-8 Freighters and seven 777-300ER aircraft.
Also with Cathay Pacific a 15-year engine maintenance agreement for the 40 GEnx-2B67 engines plus spares. The value of the deal remains undisclosed.
GE Aviation will also collect 50 per cent of almost $4.1 billion worth of deals with GE joint ventures, including:
Emirates signed a $3 billion deal with the Engine Alliance, a partnership between GE Aviation and Pratt & Whitney, for the maintenance, repair and overhaul of its GP7200 engines powering its Airbus A380 fleet.
Dubai Aerospace ordered $945 million worth of CFM56-7B engines to power 70 Boeing Next-Generation 737 aircraft - CFM engines are from a joint venture with France''s Snecma.
Saudi Arabian Airlines ordered $135 million worth of CFM56-7B engines to power 10 Airbus A320s.