- 40 GEnx engines to be installed on new fleet of Boeing 787 Dreamliner aircraft to be delivered in 2015
- Economically and environmentally advantageous with latest engine technology consuming 15 percent less fuel
HANOI, VIETNAM -- October 28, 2013 -- GE Aviation, a subsidiary of GE (NYSE:GE), today signed a contract with Vietnam Airlines to provide 40 of its GEnx jet engines for the national carrier's fleet of Boeing 787 Dreamliner aircraft, which are expected to be delivered by 2015. The deal was cemented at a signing ceremony at the reception of the US-ASEAN Business Council Board of Directors Meeting in Vietnam.
In attendance at the ceremony were Vietnam's Minister of Transportation, Dinh La Thang, Vice Minister of Foreign Affairs, Ha Minh Ngoc, the U.S Ambassador to Vietnam, David Shear and US-ASEAN Business Council Chairman, Evan Greenberg.
The GEnx engine represents a giant leap forward in propulsion technology. Using new generation materials and design processes to reduce weight, improve performance and lower the need for maintenance, the engines consume 15 percent less fuel than the engine it replaces making it both economically and environmentally sound. It is also the world's first commercial jet engine with a fan case and other parts made of carbon fiber composites, which are both more durable and easier to maintain than previous engines.
Mr. Pham Ngoc Minh, CEO of Vietnam Airlines said: "This event marks an important step for Vietnam Airlines to power our new fleet of Dreamliners 787-9 with the new generation jet engine Genx. Thanks to its state of the art technology, it's definitely that the Dreamliner will help us to fly more efficiently, to add more frequency and to be ahead of our competition being one of the most modern fleet in the region. The deal has also reinforced our long-standing partnership with General Electric Company, who has always accompanied with our development process. I strongly believe that with our productive cooperation, the operation of B787-9 will be sussessful in expanding our network, improving our services and ultimately realizing Vietnam Airlines' target to become one of Asia's carriers of choice by 2020".
Vietnam Airlines has invested heavily in improving its quality of service and its plans for expansion include increasing its number of aircraft to 101 by 2015 and to 150 by 2020.
Stuart Dean, GE's CEO for the ASEAN region, commented, "GE and Vietnam Airlines are long-term partners with a relationship spanning the past two decades. With an expanding and modern fleet of aircraft, Vietnam Airlines has ambitious plans to become one of the leading carriers in the region, and we are proud to support them in that goal by providing the very latest in engine technology which will enhance both their operating performance and their environmental credentials."
The deal, the biggest one ever for GE in Vietnam, comes at a timely juncture as the company is celebrating its 20th anniversary in the country. This latest success signifies GE's intention to continue to expand its operations in Vietnam.
One of GE's earliest customers in the region, Vietnam Airlines has used CFM International (a joint venture between Snecma (Safran) and GE) CFM56-5B engines to power 10 of its Airbus A320 aircraft since the mid-90s. As a testament to its quality and reliability, the engine has logged well over 129,000 flight hours. More recently, 14 GE90 engines were leased by Vietnam Airlines to power its Boeing 777 aircraft, the first long-range aircraft to enter service with the airline.
The signing at the reception of the US-ASEAN Business Council Board of Directors Meeting in Hanoi demonstrates the strong relationship between Vietnam and the United States.
About Vietnam Airlines
As the national flag carrier of Vietnam, headquartered in Hanoi, Vietnam Airlines operates 90 routes to 21 domestic and 28 international destinations with more than 300 daily flights. Operating the young fleet of 82 modern aircraft mainly including Boeing 777, Airbus A330, A321, the airline expects to further expand its fleet to 101 and 150 aircraft by 2015 and 2020, respectively, with new and modern aircraft as Airbus A350XWB, Boeing 787-9. Vietnam Airlines became official member of SkyTeam Alliance on June 10th, 2010 and also the first representative of the alliance in South East Asia region. For more information, visit our official website at www.vietnamairlines.com. Vietnam Airlines® - Reach further.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. They are finding solutions in energy, health and home, transportation and finance, as well as building, powering, moving and revitalizing the world. Not just imagining - doing. GE works. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
About GE in Vietnam
GE was one of the first American companies established in Vietnam during 1993 as the US Embargo was lifted. GE first set up a representative office in Hanoi in 1993, and subsequently in HCM City in 2001, working in partnership with local organizations. In 2003, GE established GE Vietnam Ltd, a 100% GE capital investment that offers a wide range of after-sales services in the fields of medical, electrical and energy equipment.
For more information, please contact:
Ms. Trinh Phuong Lan
Email: [email protected]
Mr. Le Truong Giang
Email: [email protected]
Trinh Phuong Lan