CIT Group LEAP-1B engine order valued at $760 million

LE BOURGET, France, June 19, 2013.

CIT Group today announced an order for 30 Boeing 737 MAX 8 airplanes powered by CFM International's advanced LEAP-1B engine. The engine order is valued at $760 million U.S. at list price.

To date, CFM has received orders for nearly 3,000 LEAP-1B engine at a value of more than $35 billion U.S. at list price.

Development of the LEAP-1B engine is progressing on schedule, with CFM finalizing detailed engine design drawings for release within the next few months. Parts manufacturing for the LEAP-1B engine will then accelerate through year end, leading to build-up of the first engine in early 2014. The LEAP-1B is on schedule for CFM flight testing in 2015 and engine certification in 2016. The 737 MAX is scheduled to enter service in 2017.

The LEAP-1B engine is the result of an exhaustive six-year collaboration effort with Boeing. The entire turbomachinery and installation are customized to meet the unique requirements of the 737 MAX. This program continues a 32-year relationship between CFM and Boeing; CFM engines have been the sole powerplant for all 737 aircraft sold since 1981.

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About CFM
The LEAP engine family is a product of CFM International, a 50/50 joint company between Snecma (Safran) and GE. CFM is the world's largest commercial aircraft engine supplier, and the company has delivered nearly 25,000 engines to more than 530 operators around the globe. The CFM56 fleet has logged more than 625 million flight hours in the past 30 years as the most reliable engines in the air.

For more information, contact:
Jamie Jewell
T: 513.552.2790
M: 513.885.2282

Rick Kennedy
T: 513.243.3372
M: 513.607.0609
rick.l.kennedy@ge.com

Giulia Lecarrié
T: +33.1.69.87.09.29
M: +33.6.42.40.17.19
giulia.lecarrie@snecma.fr