EVENDALE, Ohio - India's new regional carrier, Paramount Airways, has signed a new OnPointSM Solutions service agreement with GE Engine Services, Inc. for the maintenance, overhaul and repair of CF34-8E engines powering the airline's fleet of Embraer 170/175 aircraft. The nine-year agreement is valued at approximately $12 million.
Paramount, which began operations in October, is the first airline in India to operate the CF34-8E-powered E170. The airline is using the 70-passenger aircraft to offer premium scheduled airline in an all business class configuration to a variety of domestic routes from its base in Coimbatore in southern India. Paramount currently operates one E170 aircraft and will take delivery of four more airplanes in the next several months.
"I am delighted that we have signed the OnPoint agreement with GE for our five CF34-8 powered E170 and E175 aircraft," said Paramount managing director Mr. M. Thiagarajan. "This comprehensive and customized package was precisely the solution that our airline requires. We look forward to a long term relationship with GE."
OnPointSM Solutions are flexible long-term commitments designed to meet customers' unique engine service needs. Backed by GE's world-class support, these solutions improve asset value and utilization and increase operating efficiencies. OnPoint services include overhaul, on-wing support, new and used parts, component repair, technology upgrades, engine leasing and diagnostics.
GE Engine Services is a subsidiary of GE - Aviation, an operating unit of the General Electric Company (NYSE: GE). GE - Aviation is one of the world's leading manufacturers of jet engines for civil and military aircraft. GE Engine Services is a global provider of maintenance and support services for operators of GE and non-GE jet engines.
SM OnPoint is a service mark of General Electric Company.