EVENDALE, Ohio -- Chinese low-cost carrier Spring Airlines has signed a 15-year OnPointSM solution agreement with GE Aviation's Services business for the maintenance and overhaul of the CFM56-5B* engines that power the airlines fleet of Airbus A320 aircraft. The agreement, which covers the engines powering the airline's recently announced fleet of 10 purchased A320 as well as 20 leased aircraft, is valued at more than $200 million of the life of the contract.
Spring Airlines, the first low cost carrier in China, is headquartered in Shanghai. As a subsidiary of the Spring International Travel Service Ltd., one of the leading travel service providers in China, the airline began operation in 2005 and has been profitable since then with passenger load factor as high as 95% and its CFM56 fleet has kept a very high safety standard.
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.
*CFM56-5 engines are produced by CFM International, a 50/50 joint company between GE and Snecma (SAFRAN Group).