Dublin-based international aircraft leasing company Avolon today announces that it has increased its order for CFM International’s LEAP-1B engine to power 20 new Boeing 737 MAX aircraft, including five 737 MAXs which it has today reconfirmed with Boeing. CFM values the total engine order at $520 million U.S. at current list prices.
Avolon has been a CFM customer since its launch in 2010 and already has 80 CFM-powered aircraft in its fleet.
“We are pleased to expand our relationship with CFM and to announce an increase in our order of LEAP-1B engines to power all of our 20 confirmed 737 MAX aircraft. Our strong relationship with CFM reflects not only our confidence in their long track-record of designing and building world-class engines but also their continued ability to understand their customer’s needs and to respond in a timely, professional and creative way," said John Higgins, president and chief commercial officer of Avolon.
“We are excited to continue our relationship with this dynamic and successful leasing company,” said Jean-Paul Ebanga, president and CEO of CFM International. “Avolon’s focus is on modern, fuel-efficient aircraft and we are delighted to be part of the team that provides them. We believe that the LEAP-1B will be an invaluable part of the Avolon portfolio.”
“We recently began testing the LEAP-1B engine and we are more confident than ever that this engine will provide the kind of operating economics that Avolon and its customers need,” said Gael Meheust, vice president of Sales and Marketing for CFM parent company Snecma (Safran). “Avolon continues to show impressive growth and is executing its business strategy flawlessly."
Headquartered in Ireland, with offices in Stamford CT, China, Singapore and Dubai, Avolon (avolon.aero) provides aircraft leasing and lease management services. Avolon has an owned, managed and committed fleet of 207 aircraft serving 48 customers in 27 countries.
About CFM International
CFM International (cfmaeroengines.com), a 50/50 joint company between Snecma (Safran) and GE, is the world’s leading supplier of commercial aircraft engines, has delivered more than 26,500 CFM56 engines to date. The LEAP engine has experienced the fastest order ramp up in commercial aviation history, with 6,770 orders on the books as of June 30, 2014.
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