Emirates signs £16bn engine deal with GE

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Emirates signs £16bn engine deal with GE

Emirates has signed a $16 billion agreement with GE Aviation for maintenance, repair and overhaul (MRO) of the GE9X engines that will power the airline’s fleet of 150 Boeing 777X aircraft over a 12 year period. This is Emirates’ largest single engine MRO contract so far.

At the 2013 Dubai Air Show, Emirates had placed a record $76 billion order for 150 Boeing 777X twin-engine aircraft, powered by GE’s new GE9X engine. The single largest order by value in the history of US commercial aviation, it included 300 units of GE9X engines, alone worth $16 billion at list price. It was also GE Aviation’s largest ever commercial jet engine award from an airline.

Emirates also signed a 12-year OnPoint solution contract with GE Aviation worth $36 million, covering the maintenance and inventory support for various avionics, electrical power and mechanical systems on all Emirates Boeing 777 aircraft in currently service and the 44 more 777-300ERs on order.

Under this programme, GE will provide the maintenance and support services for Emirates’ Boeing 777 fleet with a strengthened local program management and stock support in Dubai, supported by GE’s global repair, overhaul and logistics facilities in the UK, the US, and Asia.

Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates airline and Group said: “Operating a modern and efficient fleet is at the foundation of Emirates’ success. Aircraft and engine purchases are long-term investments. It is also a commitment that involves many other related services over the life-span of the aircraft, generating and sustaining jobs throughout the aviation supply chain.”

“Emirates currently operates GE engines on over 100 Boeing 777 in our fleet. Over the years, we have built a successful relationship with the GE team, and we cooperate in many areas including technology and innovation sharing, and also at our state-of-the-art engine maintenance center in Dubai. We look forward to extending this partnership to our GE9X-powered Boeing 777X fleet,” he added.

David Joyce, president and CEO of GE Aviation, said: “The relationship between GE and Emirates remains strong, and the finalization of the GE9X OnPoint agreement further extends our partnership well into the future. The OnPoint solution agreement will allow us to provide comprehensive MRO support along with OEM parts and work scopes to ensure the engines remain in peak operating condition.”

OnPoint solutions are customized service agreements tailored to the operational and financial needs of each airline customer. These agreements are designed to help lower the customers’ cost of ownership and maximize the use of their assets.

Backed by GE’s global support network, OnPoint services may include overhaul, on wing support, new and used serviceable parts, component repair, technology upgrades, engine leasing, integrated systems support and diagnostics and integrated systems.

Source: Trade Arabia

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.