Minsheng Financial places $775 million CFM engine order
- Entire portfolio comprised of commercial aircraft powered by CFM and GE engines
LE BOURGET — 16 June 2015 — Minsheng Financial Leasing today announced an order for CFM International's CFM56-7B and LEAP-1B engines to power 10 Boeing Next-Generation 737 and 20 737 MAX aircraft, respectively. The order is valued at $775 million U.S. at list price.
Minsheng Financial Leasing was established in 2008 and is the largest business jet lessor in Asia and decided to enter commercial aircraft leasing in 2013. The company currently owns or manages over 30 commercial aircraft and has more than 10 international and Chinese customers.
"It is exciting to be a part of this new venture with Minsheng Financial," said Jean-Paul Ebanga, president and CEO of CFM International. "They are great business people and we certain they will agree that the CFM56 and LEAP engines in their portfolio will remain valuable assets over the long term."
The LEAP-1B engine promises to be the most advanced, reliable, fuel-efficient powerplant for the new generation of single-aisle aircraft. The engine incorporates many industry firsts, including the 3-D woven carbon fiber composite fan blade and case; the one-of-a-kind debris rejection system; fourth-generation 3-D aerodynamics; the first commercial use of ceramic matrix composites (CMCs); the revolutionary combustor design featuring fuel nozzles grown using additive manufacturing; and light-weight Titanium Aluminide airfoils. The lower weight and higher durability these components provide will result in a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; a 50 percent margin to new emissions regulations; a dramatically lower noise signature; CFM's industry-leading reliability and low overall operating costs.
About CFM International
CFM56 and LEAP engines are products of CFM International, a 50/50 joint company between Snecma (Safran) and GE and the world's leading supplier of commercial aircraft engines. The company has delivered more than 28,000 CFM56 engines to date. Through May 31, 2015, the company had received orders and commitments for a total more than 8,900 LEAP engines. For more information, visit us at www.cfmaeroengines.com or follow us on Twitter @CFM_engines
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