Cincinnati, OH -- November 16, 2007 --GE (NYSE: GE) Aviation announced at the 10th annual Dubai Airshow this week a total of $10 billion in product and service orders.
"The combined $10 billion in orders shows the tremendous demand for our advanced engine technology and services," said Scott Donnelly, president & CEO, GE Aviation. "Our knowledge of this market and relationships in the Middle East have been extremely valuable. This was our most successful show, and it demonstrates how we are winning around the world as the unprecedented demand for global infrastructure products continues to surge."
To date, GE has now sold more than 1,100 GEnx engines making it the company's fastest-selling high-thrust engine in history. To meet the strong demand for its engines, GE will expand its jet engine production rates by more than 50 percent over the next three years.
GE Aviation landed $7.7 billion worth of deals (based on engine list prices) including:
Saudi Arabian Airlines signed a $1.4 billion deal for overhaul support services on the carrier's GE90, CF6 and CF34 engines as well as to supply materials for 14 years.
Dubai Aerospace ordered $770 million worth of GE90-115B engines to power 10 Boeing 777-300ER and GEnx engines for five Boeing 747-8 freighters.
Royal Jordanian signed a 12-year service contract for maintenance, overhaul and repair of GEnx engines for 12 Boeing 787s. The value of the pact was not disclosed.
Qatar Airways has ordered $1.2 billion worth of engines, including GEnx engines to power its 30 Boeing 787s and GE90-115Bs for five Boeing 777 freighters; Qatar Airways also inked a $2.5 billion deal for a 15-year service contract to provide maintenance and overhaul work over the life of the contract.
Emirates ordered $800 million worth of GP7200 engines to power its 12 Airbus A380 aircraft; Emirates ordered an additional 12 Boeing 777-300ER aircraft, powered by the GE90-115B engines. The engine order is valued at more than $725 million (USD).
Sama has signed a 10-year, OnPointSM solution agreement for the maintenance, repair and overhaul of its CFM56-3 fleet. The agreement is valued at more than $51 million (USD) over the life of the contract.
ALAFCO Aviation Lease and Finance Company (KSCC) has chosen the GEnx engine to power its additional Boeing 787 Dreamliners; ALAFCO has order a total of 22 Boeing 787 Dreamliners, all powered by GEnx engines.
Also through its joint ventures, GE Aviation won almost $4.1 billion worth of additional product and service orders, 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.The Dubai Airshow attracts engine makers from around the world. As one of the world's most influential aviation event, the airshow touts the substantial investment in the Middle East aviation market. The volume of orders booked at the show reflects the growing demand for infrastructure in this growing market.
GE's technological excellence, supported by continuing substantial investments in research and development, has been the foundation of GE Aviation's growth and helps to ensure quality products for customers. Because of this, GE is a respected player in the aerospace market and is committed to working with customers to achieve their specific needs.
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About GE
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com.
About GE Aviation
GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as integrated digital, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings. For more information, visit us at www.ge.com/aviation.
Deb Case
GE Aviation
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1-513-243-0094
1-859-380-8463
Rick Kennedy
GE Aviation
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+1 513 243 3372
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