LE BOURGET, France -- Philippine low-fare carrier Cebu Pacific has signed a 12-year OnPointSM solution agreement with GE Aviation's Services business for the maintenance and overhaul of the CFM56-5B* engines powering the airline's fleet of Airbus A320 family aircraft.
The agreement, which covers the -5B engines powering recently announced fleet of 10 purchased A320s, is valued at more than $100 million U.S. over the life of the contract.
Cebu Pacific, the first low-fare carrier in Asia, is headquartered in Manila. It is a subsidiary of the JG Summit Group, one of the largest conglomerates in the Philippines. The airline began operation in 1996 and has been a pioneer of the "low-fare, great value" strategy in the local aviation industry.
Cebu, the leading low cost airline in the Philippines, is the third largest LCC in Asia and operates flights to 46 domestic and international destinations. It also offers the most flights to the ASEAN region from the Philippines with operational hubs in Manila, Cebu and Clark.
OnPoint solutions are flexible, long-term commitments designed to meet customers' unique engine services needs. Backed by GE's world-class support, these solutions help lower our customers' cost-of-ownership and maximize the use of their assets. Available OnPoint services include overhaul, on wing support, new and used serviceable parts, component repair, technology upgrades, engine leasing and diagnostics.
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.
SMOnPoint is a service mark of General Electric Company.