Dubai’s Emirates airline on Monday said it signed a $16 billion service contract with GE’s aviation unit for engines powering the airline’s 777x fleet.
The contract will include maintenance, repair and overhaul (MRO) of the GE9X engines that will power the airline’s fleet of 150 Boeing 777X aircraft over a period of 12 years, it said in a statement.
Emirates last year placed a record $76 billion order for 150 Boeing 777X twin-engine aircraft, powered by GE’s new GE9X engine - the only engine available for the 777x wide-body aircraft - valued at $16 billion at list price for 300 units.
Emirates said it also signed a second services contract with GE Aviation for its existing 777 fleet for further 12 years, valued at $36 million.
“Aircraft and engine purchases are long-term investments,” said Sheikh Ahmed Al Maktoum, chairman and chief executive of Emirates. “It is also a commitment that involves many other related services over the life-span of the aircraft, generating and sustaining jobs throughout the aviation supply chain.”
Emirates said that it is the world’s largest operator of the GE90-powered Boeing 777-300ERs, with more than 100 aircraft in fleet and over 40 units more pending delivery. It also operates the largest fleet of A380s powered by the GP7200 engine produced by the Engine Alliance, a joint company of GE Aviation and Pratt & Whitney.
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1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
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Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
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