VEB Leasing signs $1.2 billion agreements for CFM LEAP engines

June 21, 2017

VEB Leasing signs $1.2 billion agreements for CFM LEAP engines

  • First LEAP-1A order in Russia

LE BOURGET, France — 21 June 2017 — Russia’s VEB Leasing today announced an order for CFM International LEAP-1A engines to power 20 new Airbus A320neo/A321neo aircraft scheduled to begin delivery in 2019.   In addition, the leasing company also has firm orders for LEAP-1B engines to power 22 new Boeing 737 MAX aircraft with deliveries scheduled to begin in 2018

CFM values these two agreements at more than $1.2 billion   U.S. at list price.

“We are very pleased by the prospect of introducing LEAP engines into our portfolio: said Iurii Gaichenia, acting general director of VEB Leasing, “The engine is building a very good reputation in service and we believe it will become a real asset for us and our customer,”

“We are very pleased to welcome VEB Leasing as our first LEAP-1A customer in Russia,” said Gaël Méheust president and CEO of CFM International.  “We appreciate their confidence in the LEAP product line and look forwarding to building on our relationship going forward,”

The LEAP-1A engine entered commercial service in August 2016 and is providing its 14 operators with a significant improvement in fuel efficiency, significant reduction in CO2 emissions; and lower noise and NOx emissions.  The LEAP-1B followed in May 2017.  To date, the fleet in service has logged more than 77,000 engine flight cycles and more than 145,000 engine flight hours while maintaining CFM’s traditional industry recognized reliability.

About VEB Leasing

Joint Stock Company VEB-Leasing provides leasing financing of various transportation vehicles and technological equipment in Russia and internationally. The company gives priorities to the strategically important segments such as infrastructure and equipment. JSC VEB-Leasing provides leasing deals for new and used civil aircraft, transport aircraft and business aircraft, as well as offering finance lease for rolling stock, helicopters, automobiles, river ships and sea vessels, as well as technological equipment. The Company cooperates with major Russian aircraft manufacturers (PJSC United Aircraft Corporation, Sukhoi Civil Aircraft Company, Russian Helicopters, Irkut etc.) and such international industry giants as Boeing and Airbus. The company was founded in 2003 and is based in Moscow, Russia. Joint-Stock Company VEB-Leasing is a subsidiary of State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”.

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 and CFM has received orders and commitments for a total of more than 12,500 LEAP engines across all three models through May 2017.  For more information, visit us at www.cfmaeroengines.com or follow us on Twitter @CFM_engines.

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