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CFM Concludes $9.1 Billion Agreements With China

15.01.2018 North America
CFM Concludes $9.1 Billion Agreements With China

CFM Concludes $9.1 Billion Agreements With China

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In conjunction with French President Emmanuel Macron’s state visit to China this past week, CFM International concluded agreements and Memorandums of Understanding (MoU) 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. They 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 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 solidify our relationships with our customers there, providing a strong foundation for even more cooperation in the future.”

Photo: From left: Philippe Petitcolin, CEO of Safran; BAO Qifa, Executive Chairman and CEO of Hainan Airlines Holding; Gaël Méheust, President and CEO of CFM International

 
 



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