GE Aviation Receives Orders For Jet Engines Worth $26 Bln

(RTTNews) - GE Aviation (GE) on the opening day of the Dubai Air Show said it received $26 billion in jet engine orders and services agreements for wide-body Boeing aircraft from three leading airlines in the Middle East.

Emirates, Qatar Airways, and Etihad Airways have placed orders for 450 new GE9X for the new Boeing 777X. GE also received orders for GEnx engines for the Boeing 787 and GE90 engines for the Boeing 777.

The largest commitment was from Dubai based Emirates airlines 300 GE9X engines for its new 777X fleet of 150. The agreement for the GE9X engines is worth more than $11 billion on list price. The GE9X will have features such as largest-diameter front fan and highest pressure-ratio compressor, and unique ceramic matrix composite, hot-section components.

Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Airline & Group said, "We are pleased to expand upon our strong relationship with GE Aviation for this 777X aircraft order of great strategic importance to our airline."

David Joyce, president and CEO of GE Aviation noted that, "Emirates is critical in enabling GE to demonstrate and improve upon its high-thrust engine technologies. The success in service of the GE90-powered 777-300ER paved the way for the industry's enthusiasm for the GE9X-powered 777X. And Emirates has been there for the whole remarkable journey."

AbuDhabi based Etihad Airways selected GE engines for 56 Boeing wide-body aircraft at a list price of $3 billion. The order includes a commitment for 25 GE9X-powered Boeing 777X, 30 GEnx-1B-powered Boeing 787-10, and one GE90-115B-powered Boeing 777-200LR aircraft.

Etihad Airways has also agreed to 15-year OnPoint solution agreements worth $8 billion.

In the Dubai Airshow, GE Aviation received another order worth $3.8 billion for 50 GE9X engine for Boeing 777X aircraft. Qatar Airways currently has orders worth over US$50 billion for more than 250 aircraft, including Boeing 787s, 777s.

GE closed on Friday at $27.20.