SAFRY - India's largest airline picks GE-Safran engines for 310 new Airbus planes

General Electric's (GE) jet engine venture with Safran (SAFRY) has won an order from IndiGo to supply LEAP-1A engines to power its fleet of 310 new Airbus (EADSY) A320 family aircraft, in the CFM International joint venture's biggest single order by number of units.The agreement includes 620 new installed engines and associated spare engines, as well as a long-term multi-year service agreement.Including the 2019 agreement for engines to power 280 A320neo aircraft, IndiGo says the new deal secures the LEAP-1A engine and long-term service agreements for a total of 590 IndiGo A320 family aircraft.Analysts at Citi recently reinstated coverage of GE with a Buy rating and Street-high $17 price target, saying the company is making notable progress in its rebuilding.

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India's largest airline picks GE-Safran engines for 310 new Airbus planes