BOC Aviation Places $460 million order with CFM
- Places first order the LEAP-1A for Airbus A320neo
- Expands CFM56-5B fleet on A320neo
LE BOURGET, France — 18 June 2013 — BOC Aviation today announced that is has selected CFM engines to power new Airbus A320 family aircraft. The order, which is comprised of 10 LEAP-1A-powered Airbus A320neo and 10 CFM56-5B-powered A320ceo aircraft, is valued at $460 million U.S. at list price.
Robert Martin, managing director and chief executive officer of BOC Aviation, said, "This is our first order for engines for A320neo aircraft. This new order reinforces our customers' satisfaction with CFM56-powered A320 aircraft as a reliable airframe and engine combination, and marks our confidence in the CFM LEAP engine."
"We are pleased BOC Aviation has chosen to power its A320neo aircraft with the LEAP engine," said Jean-Paul Ebanga, president and CEO of CFM. "This engine will prove to be a real asset for both BOC and for its customers. We also appreciated their continued confidence in the CFM56-5B engine."
"We have a great, long-standing relationship with the BOC team," said Kevin McAllister, vice president of sales for CFM parent company GE Aviation. "We are honored to have been a part of their success in the past and look forward to strengthening that relationship even further as they introduce LEAP-powered aircraft into their portfolio."
The foundation of the LEAP engine is heavily rooted in advanced aerodynamics and materials technology development programs. The engine is designed to provide 15 percent better fuel consumption and an equivalent reduction in CO2 emissions compared to today's best CFM engine, along with a 50 percent reduction in oxides of nitrogen emissions, and up to a 75 percent reduction in the engines noise footprint. All this technology brings with it CFM's legendary reliability and low maintenance costs.
The CFM56-5B is the engine of choice for the Airbus A320 family and is popular with major airlines, low-cost carriers, and leasing companies alike. More than 3,250 CFM56-5B engines have been delivered to date to operators around the globe. Primary factors behind the engine's broad-based market acceptance include this industry's best reliability, durability, low cost of ownership, and world-class customer and product support. The CFM56-5B is the only engine that can power every model of the A320 family, from the small A318 up to the A321, with the same bill of materials.
LEAP engines are a product of CFM International is a 50/50 joint company between Snecma (Safran) and GE and the world's largest supplier of commercial aircraft engines. To date, more than 25,000 CFM56 engines have been delivered to more than 500 operators around the globe. This fleet has achieved more than 635 million flight hours as the most reliable engines in the air.
About BOC Aviation
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 222 owned and managed aircraft operated by airlines worldwide and another 82 aircraft on firm order. The Company has one of the youngest fleets in the industry with aircraft averaging less than four years of age. BOC Aviation is 100% owned by Bank of China, one of the largest banks in the world by market value. The Company has passed its first US$1 billion in cumulative net profits under Bank of China. It is on target to reach $10 billion in total assets this year. The company will be celebrating its 20th anniversary this year.
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