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GE Aviation Announces Over $19 Billion in Orders and Commitments at Paris Air Show

Strategic Insights

— 2 min read

At this week's Paris Air Show, GE Aviation and its joint venture companies announced more than $19 billion in orders and commitments for their engines and services. The orders and commitments include close to 1,000 GE and CFM engines, as well as OnPoint solution agreements for engine maintenance, repair, and overhaul (MRO). Some of the notable orders and commitments include Myanmar National Airlines, which signed an OnPoint solution agreement for the maintenance and overhaul of 12 CFM56-7B engines, valued at more than $60 million. China's Zhejiang Loong Airlines signed a Rate per Flight Hour agreement with CFM International to support its fleet of CFM56-5B engines. GE Aviation also signed an agreement with Xiamen Airlines for the overhaul of 12 GEnx-1B engines, valued at $240 million. Additionally, GE Capital Aviation Services (GECAS) selected CFM International's LEAP-1A engine to power 60 Airbus A320neo aircraft, and EVA Airways launched Flight Efficiency Services to reduce fuel use in its fleet of 70 aircraft.

Key Takeaways:

  • GE Aviation and its joint venture companies, including CFM International, announced over $19 billion in orders and commitments for their engines and services.
  • The orders and commitments include close to 1,000 GE and CFM engines, as well as OnPoint solution agreements for engine maintenance, repair, and overhaul (MRO).
  • Myanmar National Airlines signed an OnPoint solution agreement for the maintenance and overhaul of 12 CFM56-7B engines, valued at more than $60 million.
  • Zhejiang Loong Airlines signed a Rate per Flight Hour agreement with CFM International to support its fleet of CFM56-5B engines.
  • GE Aviation also signed an agreement with Xiamen Airlines for the overhaul of 12 GEnx-1B engines, valued at $240 million.
  • GE Capital Aviation Services (GECAS) selected CFM International's LEAP-1A engine to power 60 Airbus A320neo aircraft.
  • EVA Airways launched Flight Efficiency Services to reduce fuel use in its fleet of 70 aircraft.
  • Other notable orders and commitments include Qatar Airways, AerCap Holdings N.V., Air Transat, Zhejiang Loong Airlines, SMBC Aviation Capital, and SkyWest Airlines.
  • AerCap Holdings N.V. ordered 200 CFM LEAP-1B engines to power 100 737 MAX aircraft, valued at $2.7 billion.
  • Qantas Group entered into a multi-year OnPoint solution agreement with GE Aviation for the maintenance, repair, and overhaul of its GEnx-1B engines fleet, valued at more than $550 million.
  • Qatar Airways selected CFM International's CFM56-5B engines to power eight Airbus A320ceo aircraft, valued at $174 million.
  • Air Canada signed a long-term Rate per Flight Hour agreement with CFM to support 122 LEAP-1B engines powering the airline's Boeing 737 MAX fleet.

Statistics:

  • Over $19 billion in orders and commitments announced by GE Aviation and its joint venture companies.
  • Close to 1,000 GE and CFM engines included in the orders and commitments.
  • $60 million value of OnPoint solution agreement with Myanmar National Airlines.
  • $138 million value of Rate per Flight Hour agreement with Zhejiang Loong Airlines.
  • $240 million value of agreement with Xiamen Airlines for the overhaul of 12 GEnx-1B engines.
  • $1.77 billion value of firm engine order with GECAS for 60 Airbus A320neo aircraft.
  • $2.7 billion value of engine order with AerCap Holdings N.V. for 200 CFM LEAP-1B engines.
  • $2.2 billion value of final order with Garuda Indonesia for 50 Boeing 737 MAX powered by LEAP-1B engines.
  • $1.1 billion value of engine order with Qatar Airways for 20 GE9X engines.
  • $887 million value of engine order with Korean Air for 60 CFM LEAP-1B engines.

Sources:

  • GE Aviation press release, June 18, 2015.
  • BusinessWire, June 18, 2015, "GE Aviation Announces Over $19 Billion in Orders and Commitments at Paris Air Show".

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