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GE-IAI Aviation Services Lands $60 Million Contract With Southeast

August 15, 2001

EVENDALE, OHIO - GE-IAI Aviation Services International, LLC, a company formed by GE Engine Services, Inc. and Israel Aircraft Industries Ltd. (IAI), has been awarded a maintenance service contract from Southeast Airlines valued at more than $60 million.The seven-year aircraft/engine maintenance services contract covers seven DC-9 aircraft currently in the Southeast fleet and four MD-80 aircraft to be leased beginning in September.Airframe maintenance will be handled by IAI, while service work for the JT8 engines powering the DC-9 and MD-80 aircraft will be jointly handled by IAI and GE's engine overhaul and maintenance shop in Petropolis, Brazil.Southeast Airlines operates a charter service from its hub in Largo, Florida, with service throughout the United States and the Caribbean. "The GE-IAI reputation speaks for itself," said Charles Hellier, chief financial officer at Southeast Airlines. "This contract addresses our two major maintenance concerns - fixed maintenance costs and a consistent, secure maintenance provider. This program is ideal for an expanding airline like Southeast Airlines."GE-IAI Aviation Services International was formed in 1999 by GE and IAI to provide a single-source of full-service aircraft and engine maintenance for customers worldwide. IAI is a world-recognized, full-service provider for commercial airlines. GE Engine Services is a leader in providing maintenance and support services for worldwide operators of GE and non-GE engines, including overhaul and repair, component repair, on wing support, and spare parts.