GE Aerospace (NYSE:GE) on Monday disclosed two major deals with well-known airline operators of the UAE.
Emirates Deal
Emirates inked a deal for 130 GE9X engines to power 65 more Boeing 777‑9 jets.
Notably, Emirates placed its third order for Boeing’s 777X aircraft on Monday, which includes 65 777‑9 passenger jets.
The agreement with GE Aerospace would bring Emirates’ total GE9X order, including spares and long-term services, to over 540 engines.
The GE9X is one of the most powerful and fuel-efficient commercial engines, exclusively for Boeing 777X jets.
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It offers 10% better fuel efficiency than the GE90‑115B, next-generation emissions, and has passed 1,700+ dust ingestion cycles for harsh environments.
Today, GE also announced a $50 million investment in a new On Wing Support facility.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said, “Emirates is already the world’s largest Boeing 777 operator and we are expanding our commitment to the programme today with additional orders worth $38 billion for 65 Boeing 777-9s, and 130 GE9X engines.”
flydubai Deal
In a separate release, the airline operator announced a new order for 60 GEnx‑1B engines to power the airline’s first widebody fleet of 30 Boeing 787‑9 jets.
The deal also includes spare engines and a long-term services agreement to support flydubai’s long-haul launch.
Recent GE9X Engines Deal
Last month, AerCap Holdings N.V. (NYSE:AER) announced a seven-year agreement with GE Aerospace to provide lease pool management for the GE9X engine.
The deal also extends AerCap’s existing lease pool support for GEnx, GE90, CF6, and CF34 engines.
Price Action: GE shares were trading higher by 0.46% to $306.23 premarket at last check Monday.
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