Malev Signs Sale/Leaseback Agreement With SES
Published on 21st July 2002
FARNBOROUGH, United Kingdom July 22, 2002 Malev Hungarian Airlines has signed a sale/leaseback with Shannon Engine Support (SES) for two CFM56-3 spare engines. Under the terms of the agreement, SES has purchased the engines outright from Malev and will lease them back to the airline for two years.
SES is a wholly-owned subsidiary of CFM International (CFM). CFM is a 50/50 joint company between Snecma Moteurs (Safran Group) of France and General Electric of the United States and produces the world's best-selling commercial engine product line, the CFM56 family.
Malev operates a fleet of 15 Boeing 737-33/-400/-500 aircraft powered by CFM56-3 engines. SES specializes in flexible, cost-effective engine leasing solutions tailored to airlines' specific requirements. Spare engine leasing provide tremendous cost savings to airlines. They avoid the acquisition cost of a spare engine as well of the expense of underused assets. SES also offers guaranteed availability of spare engines, short-term engine leases, operating leases, and engine trading.
SES has a portfolio of 130 CFM56 engines, including the CFM56-3 engine for the Boeing 737-300/-400/-500, the CFM56-5A and CFM56-5B for the Airbus Industrie A320 family, the CFM56-5C for the Airbus A340, and the CFM56-7 for the 737-600/700/-800/-900. The company supports 40 customers worldwide, predominantly in Europe and China.
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About CFM International
A 50/50 joint venture between GE Aerospace and Safran Aircraft Engines, CFM International has redefined international cooperation and helped change the course of commercial aviation since its founding in 1974. Today, CFM is the world's leading supplier of commercial aircraft engines with a product line that sets the industry standard for efficiency, reliability, durability, and optimized cost of ownership. CFM International produces the LEAP family of engines and supports LEAP and CFM56 fleets for operators worldwide.
www.cfmaeroengines.com