GE Signs Nearly $4 Billion in Aviation Deals at Air Show

GE Signs Nearly $4 Billion in Aviation Deals at Air Show Aircraft engines, systems, and services sold at 2008 Farnborough International FARNBOROUGH, UK, Jul 17, 2008 (BUSINESS WIRE) -- This week, GE (GE: General Electric Company GE 28.00, +0.32, +1.2%) Aviation tallied nearly $4 billion (list price value) in aviation products and services at the Farnborough International Air Show. The sales span across the jet engine product lines of GE and CFM International, the 50/50 joint company of GE and Snecma (SAFRAN Group), as well as aircraft systems products from GE Aviation's Systems business. The $4 billion tally comprises GE's products and services, as well as 50 percent of the value of the CFM orders. "GE Aviation is coming off its three strongest order years in recent memory," said David Joyce, president and CEO of GE Aviation, headquartered in Cincinnati, Ohio. "2008 has continued to be remain strong on aviation expansion spread rather evenly across the world. Farnborough is a great stage for celebrating this fact." GE and CFM announced key strategic agreements: *GE launched a new engine core program, called "eCore," as the technology cornerstone for a new generation of jet engines for narrow-body, regional, and business jets. *GE and Snecma (SAFRAN Group) extended the CFM International partnership to the year 2040, and CFM launched LEAP Demo, an entirely new baseline turbofan engine. *GE and SAFRAN announced agreement on a new joint venture company to cooperatively develop, produce and support engine nacelles for the next-generation single-aisle commercial airliners. *CFM International launched the TRUEngine(TM) designation to help the industry more accurately appraise used CFM56 engines and to enhance resale value. Orders for GE and CFM jet engine orders and values based on list prices: *Arik Air: GEnx engines for seven Boeing 787s, and GE90 engines for five Boeing 777s. Engine value to GE: $500 million. *FlyDubai: CFM56 engines for 50 Boeing Next-Generation 737-800 and 737-900 aircraft. *China Southern Airlines: CFM56 engines for a new fleet of 20 Airbus A320 aircraft. Engine value to CFM: $700 million. *AWAS: CFM56 engines to power 45 firm, and up to 55 option A320 family aircraft. Engine value to CFM: $600 million. *Saudi Arabian Airlines: CFM56 engines for 22 Airbus A320s. Engine value to CFM: $300 million. *AirBlue: CFM56 engines for 14 Airbus A320s. Engine value to CFM: $185 million. *British Airways: CFM56 engines for two Airbus A318s. Value to CFM: $25 million. *Felix Airways: CF34 engines for eight Bombardier CRJ700s. Engine value to GE: $90 million. *China Southern Airlines: CFM56 engines for a new fleet of 20 Airbus A320 aircraft. GE Systems orders: *Bell Boeing: Five-year contract for integrated systems and equipment for 167 of the V-22 aircraft. Value to GE: $190 million. *Gulfstream Aircraft Corporation: secondary power distribution system and APU door actuation system for new G650 business jet. Value to GE: $100 million. *AgustaWestland: 10-year contract for Integrated Cockpit Display System on 70 Future Lynx and 30 Merlin Capability Sustainment Plus (MCSP) aircraft for UK Ministry of Defense. Value to GE: $55 million. *Lockheed Martin: open systems avionics solution for C-130J aircraft. Development for more than 230 aircraft operated by USAF and international air forces. Value to GE: $30 million. *BAE Systems: five-year agreement for spares inclusive repair and overhaul of Royal Air Force VC-10 Powered Flight Control Units (PFCU). Value to GE: $14 million. GE Aviation's Services: *Southwest Airlines: 10-year OnPointSM solution agreement for maintenance and overhaul of all current and future CFM56-7B engines. Covers more than 660 engines in operation and 200 engines on order. This $2 billion deal is part of GE Aviation's 50-50 CFM International partnership with France's Snecma. *Singapore Technologies Aerospace: 10-year comprehensive materials for maintenance, repair and overhaul provider with parts and support services for CFM56-3, CFM56-5B, and CFM56-7B engines. This $1.5 billion deal is part of GE Aviation's 50-50 CFM International partnership with France's Snecma. *Atlas Air Worldwide Holdings, Inc.: Tech CF6 upgrade kits for CF6-80C2 engines powering Boeing 747-400F fleet. Order value not disclosed. About GE GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, and media content, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com/. About GE Aviation GE Aviation, an operating unit of General Electric Company (GE: General Electric Company 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. For more information, visit us at www.ge.com/aviation.