WEST CHESTER, Ohio — 8 August 2017 — Air Lease Corporation (NYSE: AL) has finalized its order for additional CFM International LEAP-1B engine to power 12 new Boeing 737 MAX aircraft, including five 737 MAX 7 and seven MAX 8 aircraft. The engine order is valued at $348 million U.S. at list price and deliveries are scheduled to begin in 2022.
“The LEAP-1B-powered Boeing 737 MAX aircraft is a key element in our portfolio,” said John L. Plueger, Air Lease Corporation Chief Executive Officer and President. “These advanced technology engines are delivering 15 percent better fuel efficiency and world-class reliability, both of which are paramount to the operational stability and success of our airline customers.”
Air Lease Corporation (ALC) specializes in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized leasing and financing solutions.
“The LEAP-1B is performing exceptionally well in airline services,” said Gaël Méheust, president and CEO of CFM International. “Reliability and operating economics are more important for airlines than ever. This continued vote of confidence from ALC signifies that they recognize the value that the LEAP-1B is delivering on both of those metrics.”
The LEAP engine family has had an exceptional entry into commercial service with 18 customers currently operating more than 85 aircraft on four continents. Overall, the fleet has logged more than 100,000 cycles and 200,000 hours while maintaining CFM’s industry-leading reliability and the highest utilization rate in this thrust class. The engine is delivering a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions.
About Air Lease Corporation (NYSE: AL)
ALC is a leading aircraft leasing company based in Los Angeles, California, that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.
About CFM International
The LEAP engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. This engine has experienced the fastest order ramp up in commercial aviation history. For more information, visit us at www.cfmaeroengines.com or follow us on Twitter @CFM_engines.