CFM Books $7.3 Billion in New Engine Orders / Services Contracts
FARNBOROUGH, England — 21 July 2010
CFM International announced new orders for more than 825 CFM56 engines, as well as associated long-term services contracts, in the first three days of the 2010 Farnborough Air Show with a total value of more than $7.3 billion U.S.
Total 2010 CFM56 orders now stand at 1,135 engines. Below is a recap of the orders announced this week (all values are $ U.S. at list price):
Chilean flag carrier LAN Airlines announced its selection of the CFM56-5B engine to power 70 new Airbus A319/A320/A321 aircraft for delivery beginning in 2011. The airline also signed a Rate Per Flight Hour (RPFH) agreement. The total order is valued at approximately $2 billion.
GE Capital Aviation Services (GECAS) announced orders for CFM56-7B and CFM56-5B engines to power 40 new Boeing 737-700/-800/-900 aircraft and 60 Airbus A320 family aircraft, respectively. The Boeing aircraft are scheduled for delivery in 2013, while the A320s will begin delivery in 2012. The combined value of these orders is $1.4 billion.
Air Lease Corporation, the new venture by Steven Udvar-Hazy, ordered 60 CFM56-7B-powered Boeing 737 aircraft. This engine order is valued at $840 million
Air Arabia announced its selection of the CFM56-5B engine to power its 44 Airbus A320 family aircraft order announced in 2007. This new engine selection, which will more than double the airlines' CFM56-5B powered A320 fleet, is valued at more than $620 million U.S. at list price.
Chinese flag carrier Air China today announced that it has selected the CFM56-5B engine to power 20 firm Airbus A320 aircraft, as well as signing a Rate Per Flight Hour (RPFH) agreement. The total agreement is valued at approximately $600 million. This was a previously counted, but unannounced, order.
China Eastern Airlines also selected the CFM56-5B engine to power 30 new Airbus A320 family aircraft; scheduled for delivery in March 2011, and signed a Rate Per Flight Hour (RPFH) agreement. This announcement is valued at approximately $600 million. This was a previously counted, but unannounced, order.
RBS Aviation Capital ordered 43 CFM56-7B-powered Boeing Next-Generation 737 aircraft at a value of $600 million. The leasing company has already started taking aircraft delivery. This was a previously counted, but unannounced, order.
Norwegian Air Shuttle ordered 15 new CFM56-7B-powered Boeing 737-800s. The engine portion of the order is valued approximately $210 million.
Avolon, a new leasing company, ordered 12 CFM56-7B-powered Boeing 737-800 aircraft, with an engine value of approximately $165 million.
China's OKAY airlines orders 10 CFM56-7B-powered Boeing Next-Generation 737 in an engine order valued at $140 million. This was a previously counted, but unannounced, order.
China's Spring Airlines has selected CFM56-5B engines to power four new Airbus A320 family aircraft in an engine order valued at $56 million U.S. at list price. The airline is scheduled to begin taking delivery in mid-2012.
In addition to announced orders, CFM also signed an additional order with an as yet undisclosed customer for five A320 family aircraft at a value of more than $70 million.
CFM International is a 50/50 joint company between
Snecma (Safran group) and GE
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