Safran and GE JV Signs $4.2 Billion MoU With Hainan Airlines

Safran SA (SAF.FR) and General Electric Co.'s (GE) joint-venture company CFM International has signed a $4.2 billion memorandum of understanding with China's Hainan Airlines Holding Co. Ltd. (600221.SH) to deliver aircraft engines, Safran said Thursday.

CFM said it will supply Hainan with Leap-1A engines to power 55 Airbus A320neo aircraft. The deal also includes a long-term service agreement with the China-based carrier, Safran said.

Chinese Commerce Minister Zhong Shan and French Foreign Minister Jean-Yves Le Drian attended the memorandum's signing, according to a release from Safran.

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(END) Dow Jones Newswires

January 11, 2018 11:24 ET (16:24 GMT)