GE lands more than $8 billion in orders at Paris Air Show
With its unveiling of the fastest-selling large jet engine in GE history — the GEnx — and its strategic agreement with Mubadala Development Company, GE and its joint ventures, CFM and Engine Alliance, announced more than $8 billion in orders at this week’s Paris Air Show.
Ready for take-off: Etihad Airways, the national airline of the United Arab Emirates, selected the GEnx-1B engine to power its new fleet of 35 Boeing 787 Dreamliners. The airline also ordered GE90-115B engines for its ten 777s — and has options for dozens more of each aircraft. David Joyce, President and CEO of GE Aviation, (left) and James Hogan, CEO of Etihad Airways, are seen here signing on the dotted line at the Paris Air Show.
GE and its joint ventures, CFM International — which is a 50/50 joint venture between GE and Snecma — and the Engine Alliance — a 50/50 joint venture with Pratt & Whitney — announced 17 deals and partnerships during a four-day span.
Services, repair and overhaul contracts — whose values reflect the life of the service contract — accounted for $5 billion of the total. The deals included: Etihad ($1.7B); WestJet ($850MM); Delta Air Lines ; Air Italy; Cebu Pacific ($100MM); J-AIR; LAN ($135MM); and TAM ($345MM).
Total engine sales — which reflect the list price — came in at $3 Billion. In addition to the $2.2 billion GE engine order from Etihad, GE and its partners announced deals with: Etihad (Engine Alliance, GE value $650MM); Air Nostrum; Cebu Pacific (CFM International, GE value $155MM); Air Austral (Engine Alliance); Atlantic Airways (CFM International); and Aigle Azur (CFM International).
“Every two years, the global aviation industry arrives in Paris to showcase its leading-edge technologies and develop the relationships which keep the world flying,” said John Rice, vice chairman of GE. “Our GEnx engine is proof that fuel-efficient, lower emissions innovation remains critical to aviation customers — and the GE/Mubadala agreement further emphasizes the growing global nature of the industry and world-class companies who are increasing their aerospace commitments.”
Dynamic duo: The new GEnx engine, pictured on the left, and the GE90 engine, right, both have composite fan blades. But the GEnx gains even more efficiency as it also has a composite fan case. It makes the fan package about 400 pounds lighter than conventional materials, such as aluminum.
* Read the announcement
* Read GE coverage of the Paris Air Show
* Read about GE’s deal with Mubadala to service GEnx engines
* Read about GE’s $4.5 billion deal with Etihad Airways
* Follow Twitter updates on the Paris Show