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Safran SA and General Electric Co Joint Venture CFM International Awarded USD 2.8 Billion Contract by Etihad Airways

Saturday, 16 Nov 2013 07:00pm EST 

Safran SA announced that Etihad Airways, the national airline of the United Arab Emirates, has selected the1A engine from CFM International (50/50 owned by Safran SA's Snecma and General Electric Co) to power 26 Airbus A321neo scheduled to begin delivery in 2018. The order is valued at USD 2.8 billion at list price, including a long-term services agreement. To support the new fleet, Etihad has signed a 15-year Rate per Flight Hour (RPFH) agreement, under the terms of which CFM will guarantee maintenance costs on a dollar per engine flight hour basis. 

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