Wednesday, November 21, 2012

GE Aviation gets orders worth $2.4 bln from Turkish Airlines

General Electric Company(NYSE:GE)’s aviation division has received two orders worth $2.4 billion from Turkish Airlines, for the delivery of jet engines.

Turkish Airlines said that it has agreed to buy 15 GE90-115B-powered Boeing 777-300ER aircraft with options for five additional aircraft. Delivery will begin in 2014.

It has also signed a long-term OnPointSM solutions agreement for the maintenance, repair and overhaul of its new GE90-115B engines. The engine order and the On Point agreement are together worth $1.4 billion.

Temel Kotil, Turkish Airlines' CEO said, "The GE90 engine has a strong reputation for outstanding performance and reliability, and this reputation helped us select the engine-aircraft combination as we look to expand our fleet."

Apart from the order above the Turkish Airlines has also placed an order for GE's  CF6-80E1 engines to power its fleet of 15 firm Airbus A330-300 aircraft. Delivery will begin next year.

This is accompanies by another agreement with OnPoint for maintenance, repair and overhaul of the new engines, which will be delivered. The engines and the maintenance contract are worth about a billion dollars.

Tubes, ducts, manifolds for GE's engine are manufactured in Dayton at a factory with 200 workers, and GE Aviation has more than 1,200 employees in the Dayton region. Parent company General Electric has another 1,400 employees in the Dayton region.

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