GE Aviation spreads wings with US$10 billion deals in the Middle East
At the recent 2010 Farnborough Air Show, the Middle East region was in the spotlight signing high-value deals that have energised the global aviation industry. These multibillion dollar agreements, signed by aviation giants in the region, came as a confidence-booster, especially following the challenges of the global financial crisis.
GE Aviation took the centrestage in the future course of the Middle East’s aviation industry by clinching an impressive US$10 billion in deals. This forms a considerable share of the total order, valued at US$16 billion, amassed by the organisation from airline companies across the world at Farnborough.
“Aviation is one of the strong growth pillars of the Middle East region,” observes, Muhammad Al-Lamadani. General Manager, Eastern Europe, Middle East & CIS, GE Aviation. “There are two factors contributing to its growth: one, the focus of regional governments on infrastructure development; two, the emphasis on tourism and business by boosting airline connectivity.”
The successful partnerships formed by GE Aviation with leading airline companies in the Middle East region are significant more so because it further builds on the long-standing association with the region’s aviation industry leaders.
GE Aviation has been partnering with all leading airlines in the Middle East region over the past several decades, supporting their fleet with powerful, energy-efficient engines, as well as providing on-ground service support.
Of the nearly US$10 billion in deals signed by GE Aviation along with its joint venture companies, CFM International and the Engine Alliance, Emirates, the Dubai-based international airline, accounted for US$7.8 billion. Other key deals were signed with Air Arabia, Royal Jordanian and Qatar Airways.
GE Aviation’s partnerships complement the US$4.3 billion deals it had signed with Etihad Airways, the national airlines of the United Arab Emirates, at the 2009 Paris Air Show.
The full list of deals signed by GE Aviation at Farnborough is here