Avianca signs 15-year, $750 million OnPoint solution agreement

Avianca has signed a 15-year OnPointSM solution agreement with GE Aviation’s Services business for the maintenance and overhaul of the CFM56-5B engines that power the airline’s fleet of 50 Airbus A319 and A320 aircraft. The agreement is valued at more than $750 million. The maintenance and overhaul work will be performed at the GE’s Celma facility at Petropolis, Brazil.

Avianca has taken delivery of its first A320 aircraft. In 2007, the airline signed agreements to purchase 47 A319/A320 aircraft and has leased three additional airplanes from CIT Aerospace.

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