By Sonia Amaral Rohter
French aerospace supplier Safran SA (>> Safran) 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.
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 (>> General Electric Company)--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).
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