Etihad, GE Aviation ink $4.3 billion deals

ABU DHABI — Etihad Airways has finalised the purchase of 78 GEnx-1B engines to power its 35 Boeing 787 Dreamliner aircraft at a list price of $1.8 billion, and signed a $2.5 billion 15-year agreement with GE Aviation for the maintenance of these engines, at the Farnborough Airshow in England.

By T. Ramavarman (With inputs from Agencies)

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Published: Wed 21 Jul 2010, 11:19 PM

Last updated: Mon 6 Apr 2015, 10:37 AM

Etihad’s intent to purchase the engines was announced during the Paris Air Show in last year. The Dreamliner delivery is scheduled to begin in 2015, according to a release received here on Tuesday.

The carrier signed the OnPointSM solutions agreement with GE Aviation for the maintenance, repair and overhaul of the engines.

Etihad has also received the first A330-200 freighter aircraft from Airbus. Etihad is the launch customer of the A330-200 freighter aircraft, which will cater to Etihad’s cargo business, Etihad Crystal Cargo, in September.

“One of the key criteria in the selection of our engines is environmental performance, and the reduced emissions of the GEnx engines will complement our fleet,” said James Hogan, Etihad Airways’ Chief Executive Officer.

Meanwhile, Hogan said on Tuesday he won’t be announcing new aircraft orders at the Farnborough International Air Show, as the Abu Dhabi-based airline has a large delivery backlog from its record-breaking order in 2008.

Over the next 10 years, Etihad is to take delivery of six Airbus A330s by 2011, 20 A320s by 2015, 10 Airbus A380s from 2014, 25 A350s between 2017 and 2020, 35 Boeing 787s between 2014 and 2020, and 10 777s between 2011 and 2013.

Passenger traffic in the first half of this year was up 11 per cent compared with the same period in 2009, and passenger revenue was up 23 per cent. Capacity increased by 21 per cent, but the airline was able to reduce operating costs by four per cent from a year before.

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