General Electric, Safran JV Signs $4.5 Billion Engine Deal With Akasa Air

By Olivia Bugault

CFM International, a Safran SA and General Electric Co. joint venture, said Wednesday that Indian airline Akasa Air has signed a purchase agreement for LEAP-1B jet engines.

At list price, the agreement--which also includes spare engines and long-term services--is valued at almost $4.5 billion, the supplier of jet engines said.

The LEAP-1B aircraft engines will power the 72 Boeing 737 MAX jets whose order by Akasa Air was announced Tuesday during the Dubai air show. LEAP-1B engines are exclusively used on 737 MAX planes.

Akasa Air plans to launch commercial flights in the summer of 2022.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

11-17-21 0619ET