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American Airlines Awards GE Aviation-Safran $2.6B Contract

7/14/14 4:31 PM EDT
A joint venture between GE Aviation and French aviation company Safran has been awarded an order worth $2.6 billion from American Airlines Group. The company, CFM International, has been selected to provide engines for 100 Airbus A320neo aircrafts American Airlines has on order. These are scheduled for delivery in 2017. The American Airlines fleet currently has 375 Airbus and Boeing models fitted with CFM engines. "We are thrilled that American Airlines has again chosen to make CFM an integral part of its long-term fleet strategy," CFM CEO Paul Ebanga said in a statement. This is the latest contract between American Airlines and CFM International, a partnership which started in 1996. TheStreet's Keris Lahiff reports from New York.
Stocks in this video: GEBAAAL
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