FARNBOROUGH -- Southwest Airlines has signed a 10-year OnPointSM solution agreement with GE Aviation for the maintenance and overhaul of all its current and future CFM56-7B engines. This agreement will cover more than 660 engines currently in operation at the airline and an additional 200 engines on order. The contract is valued in excess of $2 billon over the life of the agreement.
CFM56-7B engines are a product of CFM International, a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company.
"Our partnership with GE reflects our commitment to providing the highest quality engine performance and reliability available," said Mike Van de Ven, executive vice president and chief operating officer of Southwest Airlines.
"We are excited to maintain our CFM56-7B fleet under the OnPoint solution agreement. It will provide us long-term cost-effective, comprehensive, low-risk support and services, which will enable us to more accurately predict our operating costs," said Laura Wright, senior vice president and chief financial officer of Southwest Airlines.
"GE Aviation is very pleased that Southwest Airlines has selected our company to maintain and overhaul its CFM56-7B engine fleet," said Kevin McAllister, vice president of GE Aviation's Sales organization. "With this OnPoint solution agreement, and a current service agreement on Southwest Airlines' CFM56-3 engine fleet, GE Aviation will provide services and support for more than 1,100 CFM56 engines operated by Southwest Airlines."
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 improve 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.