Fairfield-based General Electric Co. signed a deal worth $600 million over 20 years to supply and maintain jet engines for AirAsia X, Malaysian carrier AirAsia Bhd’s low-cost airline, Reuters reports.
AirAsia will buy GE jet engines for three new Airbus A330-200 jets that it expects to take delivery of in 2012, with the option of two additional aircraft, the companies said on Wednesday.
GE, the world’s largest maker of jet engines, competes with Hartford rival United Technologies Corp.’s Pratt & Whitney unit and Rolls-Royce Group Plc.
The largest U.S. conglomerate has increasingly built its industrial business model around service contracts on the equipment it sells, which it says provide a reliable revenue stream over time.
