Safran's CFM Signs $1.9 Billion Engines Deal with Gulf Air

By Marc Navarro Gonzalez Features Dow Jones Newswires

Safran SA (SA.FR) said Monday that its joint venture CFM International has signed a $1.9 billion deal with Gulf Air for aircraft engines and maintenance services.

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CFM International is a 50/50 joint venture between Safran and the U.S.'s GE Aviation.

The French aerospace supplier said that Gulf Air's order includes 58 LEAP-1A engines, which will power 17 Airbus A321neo and 12 A320neo aircraft, with an additional seven spare engines to support fleet operations.

The deal includes a long-term service agreement with the Bahrain-based carrier, Safran said.

Throughout the term of the agreement, Ohio-based CFM guarantees maintenance costs for all of Gulf Air's LEAP-1A engines on a dollar per engine flight hour basis.

The order for the engines was announced in Jan. 2016, the company said.

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Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

November 13, 2017 08:29 ET (13:29 GMT)