Saudia Signs Strategic MOU with Air France-KLM [Yahoo! Finance]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
Company Research
Source: Yahoo! Finance
commercial activities between the two airlines. (Source: '...Saudia, the national flag carrier of Saudi Arabia, has signed a Memorandum of Understanding (MOU) with Air France-KLM aimed at significantly expanding and localizing its Maintenance, Repair, and Overhaul (MRO) capabilities...') Saudia will handle module assembly and disassembly of GE90 engines, used on Boeing 777 aircraft, and will award a firm minimum of 50% of the GE90 work orders to Air France-KLM. Additionally, the agreement explores the establishment of a joint venture for GEnx engines, used on Boeing 787 aircraft. (Source: 'The MOU includes provisions for Saudia to handle module assembly and disassembly of GE90 engines, which are used on Boeing 777 aircraft. Saudia will award a firm minimum of 50% of the GE90 work orders to Air France-KLM in return for localizing the process. Additionally, the agreement explores the establishment of a joint venture for GEnx engines, used on Boeing 787 aircraft.') The collaboration
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