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Share Price Information for easyJet (EZJ)

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Share Price: 541.60
Bid: 542.80
Ask: 543.40
Change: -5.20 (-0.95%)
Spread: 0.60 (0.111%)
Open: 550.00
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Low: 541.00
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UPDATE 1-AIRSHOW-Engine maker CFM eyes record orders in 2014

Sun, 13th Jul 2014 13:02

* Orders already at 2,071 to end June vs 2,723 in 2013

* CEO says has made offer to easyJet for A320neo engines (Adds quotes from CEO on easyJet engine bid, Leap enginetesting)

FARNBOROUGH, England, July 13 (Reuters) - CFM Internationalexpects another record year for engine orders, its chiefexecutive said on Sunday, adding the company, which earlier inthe day announced an order from American Airlines, hadbid for an engine deal with easyJet.

"When we see the number of orders already achieved at thistime of year and when we compare this figure with the previousyear ... then we are about to achieve another record year in2014," Jean-Paul Ebanga told journalists at an event ahead ofthe Farnborough air show, which runs from July 14-20.

CFM, a joint venture between Safran and GE,has garnered orders for 2,071 engines so far in 2014 to the endof June, driven by its new Leap engine for the Airbus A320neo and the Boeing 737 Max narrow-body planes.

It last year pulled in orders for 2,723 engines.

It earlier reported it had been picked by American Airlinesto provide engines for 100 Airbus A320neo jets the airline hason order, in a deal worth $2.6 billion at list prices.

When asked about media reports that easyJet was poised toorder CFM engines to power 100 A320neo planes, Ebanga toldReuters CFM had made an offer to the low cost carrier, but thatit was up to the airline to decide now.

CFM competes with Pratt & Whitney, a division of UnitedTechnologies Corp, to supply engines for the A320neo.

Ebanga highlighted CFM had provided the engines foreasyJet's first Boeing planes and that the airline was itsbiggest customer for the CFM56-5B engine.

"We have grown up with them, we hope the adventure willcontinue," he said.

Executives at the briefing also said CFM was on schedulewith testing and certification for its new Leap engine, with thefirst variant due to come into service in 2016, and that thecompany was working hard to ensure it was ready to increaseproduction to 1,800 engines per year by 2020 from the currentrate of 1,500.

Executive Vice-President Cedric Goubet said the company wasalso looking to make improvements on the Leap engine furtherdown the line, once it has come into service, using newtechnology such as lighter weight materials or additivemanufacturing.

"We will be ready at the relevant time to respond to apotential market demand in terms of further improvement of theengine after the entry into service," he said.

The use of new composites on fan blades and other componentsmeans the Leap already shaves 1,000 pounds (450 kilogrammes) offthe weight of a plane. Goubet said it should be possible toreduce the weight further by hundreds of pounds. (Reporting by Victoria Bryan and Cyril Altmeyer; Editing byMark Potter)

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