Safran's CFM and SilkAir Sign $1 Billion Engine-Support Agreement

By Sonia Amaral Rohter Features Dow Jones Newswires

French aerospace supplier Safran SA (SAF.FR) said Friday that its CFM International joint venture has signed a fifteen-year maintenance agreement to support the LEAP-1B engines installed in SilkAir's new fleet of Boeing 737 MAX 8 aircraft.

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The agreement with SilkAir, which is valued at $1 billion at list price, includes a total of 80 engines.

Safran said that under the terms of the agreement CFM International--its joint venture with General Electric (GE)--guarantees the maintenance costs for all SilkAir's LEAP-1B engines on a dollar per engine flight hour basis.

SilkAir is a regional carrier of Singapore Airlines (C6L.SG).

Write to Sonia Amaral Rohter at

(END) Dow Jones Newswires

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November 10, 2017 12:50 ET (17:50 GMT)