November 16, 2018 / 1:51 PM / 24 days ago

BRIEF-SaudiGulf Airlines Selects CFM LEAP-1A To Power New A320neo Family Aircraft

Nov 16 (Reuters) - CFM INTERNATIONAL:

* ANNOUNCED ON THURSDAY AL-QAHTANI AVIATION, PARENT COMPANY OF SAUDIGULF AIRLINES, AND CFM INTERNATIONAL SIGNED A PURCHASE AGREEMENT FOR LEAP-1A ENGINES TO POWER 10 FIRM, 10 OPTION A320NEO FAMILY AIRCRAFT THAT ARE SCHEDULED TO BEGIN DELIVERY IN 2023

* VALUE OF THE AGREEMENT, WHICH INCLUDES THE FIRM ENGINE ORDER AND A LONG-TERM SERVICE AGREEMENT, IS MORE THAN $1.0 BILLION U.S. AT LIST PRICE

* AIRLINE IS ALSO LEASING AN ADDITIONAL 20 LEAP-POWERED A320NEO AIRCRAFT AND PLANS TO TAKE ITS FIRST AIRCRAFT IN 2020

* 12-YEAR RATE PER FLIGHT HOUR AGREEMENT UNDER THE TERMS OF WHICH CFM WILL PROVIDE MAINTENANCE SUPPORT ON A DOLLAR PER FLIGHT HOUR BASIS

* CFM INTERNATIONAL, A 50/50 JOINT COMPANY BETWEEN GE AND SAFRAN AIRCRAFT ENGINES

Source text: bit.ly/2Q1bDc2

Further company coverage:, (Gdynia Newsroom)

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