Saturday, June 20, 2009

Cebu Pacific Engine Deal to GE

GE Aviation, its subsidiaries and joint ventures, have announced more than $4.2 billion in orders so far during the International Paris Air Show in France, including agreements for its maintenance, repair and overhaul services.

The air show, held from June 15-21 at the Paris-Le Bourget Airport, is an opportunity for aerospace firms to show off their products and make deals.

GE Aviation’s announced orders include:

• A firm commitment by Brit Air, a subsidiary of Air France, for six Bombardier CRJ1000 aircraft, powered by GE’s CF34-8 engines, worth about $300 million at list price.

• An order from Cebu Pacific, a discount Philippines airline, for CFM International’s CFM-56-5B engines to power 10 new Airbus A320 aircraft worth about $155 million, plus a 12-year OnPointSM agreement for maintenance and overhaul of the engines, valued at more than $100 million.

• A $240 million order from Air Austral, based on the Indian Ocean island of La Reunion, for Engine Alliance GP7200 engines to power two Airbus A380 aircraft, worth about $240 million. The Engine Alliance is a joint venture between General Electric and Pratt & Whitney.

Evendale-based GE Aviation is a unit of General Electric Co. (NYSE: GE), headquartered in Fairfield, Conn.

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