Jet Airways Expands Its OnPoint Solution Agreement for CF6 Engines

FARNBOROUGH AIR SHOW – July 9, 2012 — Jet Airways has signed an 10-year OnPointSM solution agreement with GE Aviation that expands the engine maintenance, repair and overhaul coverage to include new CF6-80E engines that will power nine additional Airbus A330 aircraft that the carrier will begin inducting later this year. The agreement is valued at $150 million (USD). Jet Airways currently operates 10 A330-200 aircraft powered by CF6-80E engines that are covered with an OnPoint solution agreement from GE.

“GE’s OnPoint solution agreement is a comprehensive engine maintenance solution that maintains our engines to ensure the superior operational reliability for which Jet Airways is highly regarded,” says Nikos Kardassis, Chief Executive Officer for Jet Airways. “Furthermore, its flexible structure and customized overhaul plan developed jointly with the airline enables us to accurately forecast and optimize cash flows.”

“Jet Airways and GE have worked successfully together since the airline launched its first route in 1993 with a CFM56*-powered Boeing 737 aircraft,” said Paul McElhinney, president and chief executive officer of GE Aviation’s Services organization. “With this OnPointSM solution agreement, GE will provide Jet Airways with high-quality maintenance and overhaul capabilities as well as the OEM parts to meet all of its service needs.”