Gulf Air signs 10-year maintenance, repair and overhaul agreement with GE Aviation

The contract is valued at more than $100m over the life of the agreement.

Gulf Air has placed order for the CFM56-5B engines - product of CFM International, a 50/50 joint company between General Electric Company and Snecma (SAFRAN Group) - to equip its 15 new Airbus A320 family aircraft scheduled for delivery between late 2009 and 2013.

Mr. Bjorn Naf, Gulf Air Chief Executive Officer, said:

"One of Gulf Air's top priorities is to ensure achieving technical excellence in aircraft maintenance so that we maintain a fleet that is top notch condition. I am confident that the Airbus fleet fitted with new CFM engines are in the expert hands of GE professionals."

Naf added, "Gulf Air's foremost priority is to ensure its aircraft are equipped and maintained in top order especially when it comes to critical items like the engine, which is the heart of aircraft."

"GE's vast experience and high quality technical expertise in the areas of engine overhaul and repair, components repair and supply etc, will help us lower our operational costs while maintaining highest quality standards," Mr. Naf concluded.

OnPoint solutions are customized service agreements tailored to the operational and financial needs of each customer for any fleet size. 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.

"We are very pleased that Gulf Air has selected GE Aviation to maintain and overhaul its CFM56-5B engine fleet," said Muhammad Al-Lamadani, Senior Executive Sales for Middle East, Eastern Europe and Commonwealth of Independent States (former Soviet Union), GE Aviation.

"GE has decades-long record of providing comprehensive and tailor-made solutions to global airlines and this agreement with Gulf Air reinforces our mutual cooperation and relationship with one of the pioneering airlines in the region," he added.

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.