SHANNON, Ireland – January 22, 2013 – GE Aviation signed a Memorandum of Understanding (MOU) with Aldus Aviation Limited to develop a lessor-oriented CF34-8E and CF34-10E support package.
The support package will enable leasing companies to better control maintenance costs, regardless of the operator to which the aircraft is leased. Under the terms of the agreement, GE would provide support for lessors of leased aircraft maintained by operators under GE’s OnPoint SM solutions engine services agreements. The product is designed to be transferrable between lessors, which will enable lessors to more accurately predict maintenance costs.
"GE service products are flexible to customer needs," said Bill Dwyer, chief marketing officer for GE Aviation Services. “With the growing role of leasing companies in financing the operating fleets, we are happy to be able to work on solutions that provide maintenance services direct to our airline customers while providing life cycle maintenance assurance to the asset owner.”
"Aldus believes this unique product will help our customers limit the cost of the maintenance burden as a direct result of operating our aircraft as part of their fleet, whilst giving us certainty over the cost and care of our owned engines," said Mr. Ciaran Redmond, chief operating officer of Aldus.
For many airlines the protection of a GE product offering is key to the efficient management of their engine fleet. This new product allows Aldus to offer such support on their engines leased to those airlines. The efficiency of this arrangement for GE, Aldus and the airline is the key economic driver in support of the CF34 family of engines.
About GE Aviation
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet, turboshaft and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings. For more information, visit us at www.ge.com/aviation. Follow GE Aviation on Twitter at http://twitter.com/GEAviation and YouTube at http;//youtube.com/user/GEAviation.
About Aldus Aviation Limited
Aldus Aviation is a global aircraft leasing company with its headquarters located in Shannon, Ireland and with offices in London and Johannesburg. The company specializes in owning and leasing Embraer E-Jet series aircraft and is focused on the regional jet market. Aldus currently has a fleet of 20 aircraft and counts among its customers some of the world's leading and most respected Airlines.
It signed an 11-year OnPoint solution agreement for the maintenance, repair and overhaul of its 138 CF34-8 engine fleet. The agreement is valued at $350 million over the life of the agreement.
GE has awarded Silk Way West Airlines its TRUEngine designation for eight GEnx-2Bs that will power its fleet of two Boeing 747-8 freighters, slated for delivery in 2014.
GE plans to use Taikoo Engine Services (Xiamen) Company Limited (TEXL), an affiliate of HAECO, to perform much of the maintenance under this agreement.