Strong GE90 demand spurs long-term maintenance deals, high prices

Demand for GE90 engines to support passenger and freighter operations is so strong that MTU Aero Engines has secured long-term maintenance agreements with its customers that will last another fifteen years. Operators and lessors are willing to invest in the overhaul and repair of GE90 engines to keep their fleets airborne, Les Cronin, vice president of sales and marketing at MTU Aero Engines North America, said during today’s Cargo Facts webinar, “Full thrust: Navigating engine challenges in the freighter segment." Watch the webinar here. [caption id="attachment_57293439" align="aligncenter" width="1568"] Cargo Facts Senior Associate Editor Robert Luke, top right, moderates a webinar about engine challenges with Jose Fagundo of The Xtreme Group, top left; Les Cronin of MTU Aero Engines, bottom left; and David Ellis of GA Telesis, bottom right. (Photo/Cargo Facts)[/caption] “So you want to spend good money on those engines, to get them out there,” Cronin said. “We’ve already done contracts on the widebodies, and we’re already locked up with some fleets until 2040 now to maintain them.” GE90 values have increased exponentially during the last few years. An unserviceable GE90 averaging between $7 million and $10 million in 2021 now costs up to $15 million. Meanwhile, a half-life engine could be sold for as much as $20 million, Cronin said. “We’re inducting approximately one and a half GE90s a week currently, and we’re doing a lot of hospital work and field work out there as well, supporting those fleets and keeping them going as we’re in the peak season right now,” he said. Securing GE90s for 777Fs Passenger carriers began renewing their leases on 777-300ERs and the GE90 engines that power them about two years ago, when the GE9X high-pressure compressor issues delayed Boeing’s 777-9 program. These lease extensions are a function of shop visit demand for the GE90s, Cronin previously told Cargo Facts . The continued demand for GE90s from passenger carriers remains a challenge for freighter operators flying 777Fs and for the three 777 conversion programs. IAI received approval for its 777-300ERSF in September, paving the way for Kalitta Air to take delivery of its first six units on lease from AerCap. The carrier plans to operate seven by yearend . The next 777 conversion program set to receive approval is Mammoth Freighters, which selected MTU in October 2021 as the preferred provider for all engine-related services and support for its 777 conversions. Meanwhile, Boeing, which has received orders for thirteen 777Fs so far this year, completed its 300th 777F delivery in August. The U.S. planemaker had orders for fifty-four more of the production freighter as of Oct. 31, according to its commercial orders and deliveries backlog. Cargo Facts LATAM 2026, the essential event for stakeholders in Latin America, will take place Feb. 10-12 at the Marquis Reforma in Mexico City. Learn more and register by Dec. 26 to take advantage of early-bird pricing. Cargo Facts Asia 2026, the indispensable event for Asia-Pacific stakeholders, will take place March 23-25 at the W Shanghai. Learn more and register by Feb. 6 to take advantage of early-bird pricing. The inaugural Cargo Facts Routes and Airport Conference will take place April 27-28 at the Marriott Al Forsan Abu Dhabi. Learn more and register by March 13 to take advantage of early-bird pricing.

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