BAHRAIN -- Gulf Air has signed a 10-year OnPointSM solution agreement with GE Aviation for the maintenance, repair and overhaul of its new CFM56-5B engines that power 15 Airbus A320 aircraft. The contract is valued at more than $100 million over the life of the agreement. Aircraft delivery begins in 2009.
CFM56-5B engines are the product of CFM International, a 50/50 joint company between General Electric Company and Snecma (SAFRAN Group).
"Our partnership with GE started over 20 years ago and reflects our cooperation and GE's commitment to providing Gulf Air with the highest quality engine performance and reliability available," said Talal Al-Zain, Chairman of Gulf Air.
"GE Aviation is very pleased Gulf Air has selected our company to maintain and overhaul its CFM56-5B engine fleet," said Muhammad Al-Lamadani, Senior Executive Sales for Middle East, Eastern Europe and Commonwealth of Independent States (former Soviet Union), GE Aviation.
OnPoint solutions are customized service agreements tailored to the operational and financial needs of each customer for any size fleet. These agreements are designed to help lower the customers' cost of ownership and maximize the use of their assets. Backed by GE's global support network, OnPoint services may include overhaul, on wing support, new and used-serviceable parts, component repair, technology upgrades, engine leasing, integrated systems support and diagnostics and integrated systems.
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 avionics, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings.