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GE and Iberia Sign MOU for Services Agreement

Written by thomas · Filed Under Commercial 

September 26, 2008

thomas

MADRID, SPAIN – September 24, 2008 – GE Aviation and Iberia have signed a memorandum of understanding (MOU) for Iberia to become the preferred regional fulfillment center for the maintenance, repair and overhaul of CFM56-5A engines within Europe, Africa and the Middle East.

Under this agreement, GE Aviation will contract with Iberia for MRO services on CFM56-5A engines operated by customers in the region. Iberia will enter into an OnPoint solution agreement with GE for material and services to be used in the maintenance, repair and overhaul of the CFM56-5A engines.

“Iberia is a well established MRO provider,” said Tom Gentile, vice president and general manager of GE Aviation’s Services organization. “The MOU and subsequent OnPoint solution material agreement will allow CFM56-5A customers in Europe, Africa and the Middle East to have their engines repaired by Iberia and have access to the same high-quality OEM spare parts and repair offerings that GE Aviation can provide.”

Manuel Lopez Aguilar, Executive Vice President Iberia Maintenance & Engineering said:

“The signature of this agreement represents for Iberia Maintenance a big step ahead in our strategy to be one of the top leaders of engine maintenance service providers. Being a member of the GE network demonstrates that you have attained the highest standards of quality, efficiency and customer support, and this is the commitment of Iberia to our customers and GE.

“The agreement represents a new step in the very fruitful long-term relationship between GE and Iberia Maintenance, established over many years. The CFM56-5A agreement will be the first project of deep co-operation that may be extended in the future for other products of the CFM and GE engine families.

“As part of this agreement Iberia Maintenance will continue investing in new technologies and improvements in processes and procedures in order to maintain our competitiveness and increase customer satisfaction.”

Iberia is Spain’s largest air transport group and the fourth largest in Europe. It is also the leading airline on routes between Europe and Latin America, with the most flights and destinations. Iberia’s business is focused on three main activities: transport of passengers and cargo, aircraft maintenance and handling services in airports. A private company, Iberia is listed in the selective Ibex 35 index of the Spanish stock market and is the only European airline to have posted a profit for the past 12 years. Iberia is also a founding member of oneworld, the alliance of airlines around the globe, which together serves some 700 destinations, and offers the best connections.

GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as integrated digital, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings. For more information, visit us at www.ge.com/aviation.

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