GECAS Places $1.4 Billion LEAP Engine Order
LE BOURGET, France – 20 June 2011 – GE Capital Aviation Services (GECAS) today announced that it has selected CFM International's advanced LEAP engine to power 60 new Airbus A320neo aircraft scheduled to begin delivery in 2016. The engine order is valued at $1.4 billion U.S. at list price.
"We are very pleased to once again be partnering with GECAS," said Jean-Paul Ebanga. "We have an incredibly strong relationship with them and look forward to working with them in the future."
LEAP engines incorporate revolutionary technologies never before seen in the single-aisle aircraft segment. The new engine combines advanced aerodynamic design techniques, lighter, more durable materials, and leading-edge environmental technologies, making it a major breakthrough in engine technology. The 15 percent better engine fuel efficiency*, at current fuel prices, translates to as much as $1.6 million in fuel cost savings alone for customers per airplane, per year. LEAP technology will also achieve double-digit improvements in CO2 emissions and noise levels, all while providing the industry's best reliability and lowest maintenance costs.
LEAP is a product of CFM International, a 50/50 joint company between Snecma (Safran group) and GE. CFM is the world's leading supplier of commercial aircraft engines, with more than 22,200 delivered to 500+ operators around the globe.
About GE Capital Aviation Services (GECAS): GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,800 owned and managed aircraft with approximately 245 airlines in 75 countries. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity solutions including spare engine leasing, spare parts financing and management. GECAS, a unit of GE Capital, has offices in 25 cities around the world.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
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