CFM Concludes $9.1 Bn US Agreements During French State Visit to China

January 12, 2018

-

In conjunction with French President Emmanuel Macron's state visit to China earlier this week, CFM International concluded agreements and Memorandums of Understanding for new engine orders and long-term support agreements covering nearly 500 CFM engines.  The total value of the agreements is $9.1 billion U.S. at list price.

The agreements include:

• Spring Airline:  $2.9 billion covering installed and engines supported by a long-term Rate Per Flight Hour agreement.
• Hainan Airlines:  $4.2 billion MoU covering new and spare engines and a long-term support agreements.
• Xiamen Airlines: 2.05 billion MoU covering installed and spare engines, along with a long-term Time and Materials support agreement.

Philippe Petitcolin, Chief Executive Officer of CFM parent company Safran, signing on behalf of CFM, said: "Our relationship with Chinese aviation industry goes back more than 30 years, not only as a customer base but a very important supplier base.  These new agreements strengthen our commitment to China and solidifies our relationships with our customers there, providing a strong foundation for even more cooperation in the future."

Source : Safran S.A. (Paris: SAF.PA)