During U.S. President Donald Trump's visit to China, Juneyao Airlines, a subsidiary under Juneyao Group, reached an agreement with GE to order GEnx-1B engines to power its 10 Boeing 787-9 aircraft. Wang Junjin, Chairman of the Juneyao Group and John Rice, Vice Chairman of GE, President & CEO of GE Global Growth, signed the agreement, witnessed by U.S. President Trump and China President Xi Jinping. The engine order is valued at $1.4 billion USD (list price) and includes a 15-year TrueChoiceTM Overhaul agreement with GE Aviation for the time and material to repair and overhaul of these engines. The aircraft will being delivery in 2018.
"The majority of our fleet is powered by CFM56* engines," said Wang Junjin, Chairman of Juneyao Group. "The products are performing great, and we've been well supported by the CFM and GE team. We believe that GEnx engines will help us continue the profitability on our newly expanded international routes."
"We are so pleased that Juneyao Airlines selected our GEnx-1B engines for its first widebody aircraft order," said John Rice, Vice Chairman of GE, President & CEO of GE Global Growth. "It's a great honor to be part of Juenyao's growth, and we will ensure our best support to their new fleet."
Juneyao Airlines is one of the fastest growing airlines in China. The airline started commercial operations in 2006 and has maintained a strong record of safe operations. It currently operates the youngest fleet with an average age of just 2.5 years with more than 60 A320 aircraft. Its network radiates domestic and international routes from Shanghai Pudong to more than 80 domestic cities and neighboring regions and countries. The newly purchased GEnx-1B-powered B787 fleet will be used on its Sino-US international long-haul routes. Juneyao Airlines achieved 11 years of continuous profitability since its establishment.
More than 1,600 GEnx-1B engines have been sold to 51 customers. Compared to GE's CF6 engine, the GEnx engine offers up to 15 percent better fuel efficiency, which translates to 15 percent less CO2. The GEnx's innovative twin-annular pre-swirl (TAPS) combustor dramatically reduces NOx gases as much as 55 percent below today's regulatory limits and other regulated gases as much as 90 percent. Based on the ratio of decibels to pounds of thrust, the GEnx is the quietest engine GE produces due to the large, more efficient fan blades that operate at slower tip speed, resulting in about 40 percent lower noise levels.
The GEnx is part of GE's "ecomagination" product portfolio - GE's business strategy to develop new, cost-effective technologies that enhance customers' environmental and operating performance.
GEnx's revenue-sharing participants are IHI Corporation of Japan, Volvo Aero of Sweden, MTU of Germany, TechSpace Aero (Safran) of Belgium, Safran Aircraft Engines of France and Samsung Techwin of Korea.
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings and is part of the world's Digital Industrial Company with software-defined machines and solutions that are connected, responsive and predictive. For more information, visit us at www.ge.com/aviation. Follow GE Aviation on Twitter at http://twitter.com/GEAviationand YouTube at http://www.youtube.com/user/GEAviation.