JetBlue Airways Signs GE OnPoint Solution Agreement on CF34 Engines

JetBlue Airways (Nasdaq:  JBLU) has signed a 15-year OnPointSM solution agreement with GE Aviation for the maintenance, repair and overhaul of its CF34-10E engines that power its EMBRAER 190 fleet. JetBlue currently operates 52 E190s.

"We are very pleased to expand our relationship with GE, a company that is universally recognized for its commitment to the highest quality and safety standards," said Mark Powers, JetBlue's Chief Financial Officer. "We believe this agreement will help us continue to run a safe, reliable, highly-efficient operation, while controlling our maintenance costs."

"JetBlue is recognized for its customer service and support, and GE Aviation is proud to play a key part in supporting JetBlue's CF34 engine fleet with our OEM quality services offerings," said Paul McElhinney, president and chief executive officer of GE Aviation's Services organization.

OnPoint solutions are customized service agreements tailored to the operational and financial needs of each customer for any size fleet. These agreements are designed to help lower the customers' cost of ownership and maximize the use of their assets. Backed by GE's global support network, OnPoint services may include overhaul, on wing support, new and used-serviceable parts, component repair, technology upgrades, engine leasing, integrated systems support and diagnostics and integrated systems.

Source: GE Aviation
Date: Jul 10, 2012