Saudi Arabian Airlines signed an exclusive $300 million, 10-year materials agreement with GE Aviation Services for the airline's entire fleet of 100 CFM56-5B engines powering its Airbus A320 fleet. Saudi Arabian formalized the agreement to purchase 22 aircraft recently and plans to lease an additional 28 CFM56-5B-powered A320 aircraft. The airline is scheduled to receive its first airplane the third quarter of 2009, with deliveries continuing through late 2012. Director General of Saudi Arabian Airlines, Khalid Al-Molhem said “We very much look forward to the introduction of our CFM56-5B fleet, and enjoying best-in-class reliability and maintainability, and for Saudi Arabian Airlines and GE implementing successfully this strategic agreement.” “We are very happy to expand the relationship between GE and Saudi Arabian Airlines to encompass the CFM56 product line,” said David Joyce, president and CEO of GE Aviation. “This materials agreement will help enable the airline to maintain its fleet with original CFM quality parts and comprehensive support.” The engines incorporate technology, which contributes to a 1 percent improvement in fuel consumption over the life of the product, compared to the base engine. This will help in reducing these emissions by 200 tons per aircraft annually in addition to 25 percent lower nitrogen oxide emissions.
