GE Aviation along with its joint venture companies, CFM International and the Engine Alliance, have amassed engine and services orders valued at more than $16 billion at the recent 2010 Farnborough Air Show, of which more than half - nearly $10 billion - were signed by leading airlines in the Middle East region, notably, the UAE. Of the nearly $10 billion in deals, Emirates, the Dubai-based international airline, accounted for $7.8 billion. “GE Aviation is excited with the tremendous amount of engine and services orders received at the 2010 Farnborough Air Show,” said David Joyce, president and chief executive office of GE Aviation. “The level of activity at the show demonstrates that the aviation industry is beginning to emerge from the economic downturn.” GE Aviation and its joint companies garnered $11 billion in engine orders and $5 billion in long-term, high-margin service agreements, including several prestigious orders from the Middle East region from leading players, Emirates, Air Arabia, Royal Jordanian and Qatar Airways. Muhammad Al-Lamadani, general manager, Eastern Europe, Middle East & CIS, GE Aviation, said: “Aviation continues to be one of the strong growth pillars of the region, powered by infrastructure development and the focus of the regional Governments to strengthen airline connectivity to boost tourism and business.” The Middle East deals announced at Farnborough complement another significant order inked by GE Aviation with Etihad Airways, the national airlines of the United Arab Emirates. Etihad had finalized its purchase of 70 GEnx-1B engines to power the 35 Boeing 787 Dreamliner aircraft along with a multi-year OnPoint solution services agreement on the engines. The engine order is valued at $1.8 billion and the OnPoint solution agreement is valued at $2.5 billion over its life. Etihad had announced the engine selection and services agreement at the Paris Air Show in 2009. GE Capital Aviation Services also ordered CFM56-7B engines to power 40 Boeing 737-700/-800/-900 aircraft and CFM56-5B engines to power its 60 Airbus A320 aircraft. The combined engine order is valued at $1.4 billion at list price. – SG GE Aviation and its joint venture firms have underscored partnership role.
