CFM signs agreements worth $9.1bn in China
The Safran/GE joint venture concluded orders and agreements covering nearly 500 engines during French President Emmanuel Macron's recent state visit to China.
In conjunction with French President Emmanuel Macron's state visit to China earlier this week, CFM International has concluded agreements and MoUs for new engine orders and long-term support agreements covering nearly 500 CFM engines. CFM International is a 50/50 joint venture between Safran Aircraft Engines (France) and GE (U.S.)
The total value of the agreements is $9.1bn at list price.
The agreements include:
Spring Airline: 120 Leap-1A engines to power 60 Airbus A320neos, plus a 10-year Rate for Flight Hour agreement, under the terms of which CFM will support the entire fleet on a dollar per flight hour basis. The total value of the agreement is $2.9bn. The engine order was announced at the 2017 Paris Air Show.
Hainan Airlines: $4.2bn MoU covering Leap-1A engines to power 55 A320neos, along with a long-term support agreement for Hainan Airlines Holding and its affiliates.
Xiamen Airlines: $2.05bn MoU covering installed and spare engines, along with a long-term time and materials support agreement.