FARNBOROUGH, England – 21 July 2010 – Chinese low-cost carrier Spring Airlines has extended it’s current OnPointSM solution agreement with GE Aviation’s Services business for the maintenance and overhaul of the CFM56-5B* engines that power the airlines fleet of Airbus A320 aircraft to include the engines powering four additional A320 family aircraft announced earlier today, as well as three additional leased aircraft.
The agreement now covers the engines powering the airline's recently announced fleet of 14 purchased A320 as well as 23 leased aircraft. The total agreement (covering all 37 aircraft) is valued at $300 million of the life of the contract.
Spring Airlines, the first low cost carrier in China, is headquartered in Shanghai. As a subsidiary of the Spring International Travel Service Ltd., one of the leading travel service providers in China.
OnPoint solutions are customized service agreements tailored to the operational and financial needs of each customer for any size fleet. These agreements are designed to help lower the customers' cost of ownership and maximize the use of their assets. Backed by GE's global support network, OnPoint services may include overhaul, on wing support, new and used-serviceable parts, component repair, technology upgrades, engine leasing, integrated systems support and diagnostics and integrated systems.
GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as avionics, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings.
OnPoint is a service mark of General Electric Company.
*CFM56-5 engines are produced by CFM International, a 50/50 joint company between GE and Snecma (Safran group).