CFM International, Aviation Capital Group Announce Order for Additional LEAP-1A Engines
FARNBOROUGH, England — 17 July 2018 — CFM International and Aviation Capital Group LLC (ACG) today announced the selection of LEAP-1A engines to power 10 firm Airbus A320neo family aircraft. ACG has also secured the option to purchase 18 additional LEAP-1A engine shipsets to power Airbus A320neo family aircraft. This firm engine order is valued at $300 million U.S. at list price.
"LEAP technology is delivering some impressive operating economics," said Khanh T. Tran, CEO of ACG. "The engines in service are providing very high daily utilization and significant fuel burn savings, providing enhanced value to our airline customers."
The LEAP engine family continues to perform exceptionally well in commercial service. There are 61 airlines currently operating more than 385 aircraft powered by LEAP engines on five continents. Overall, the fleet has logged more than 700,000 flight cycles and 1.5 million engine flight hours while maintaining CFM's industry-leading reliability and the highest utilization rate in this thrust class. The engine is delivering a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions.
Aviation Capital Group
Aviation Capital Group is one of the world's premier full-service aircraft asset managers with approximately 465 owned, managed and committed aircraft, which are leased to approximately 95 airlines in approximately 45 countries. ACG was founded in 1989 and is an indirect wholly-owned subsidiary of Pacific Life Insurance Company.
About CFM International
The LEAP engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. This engine has experienced the fastest order ramp up in commercial aviation history. For more information, visit us at www.cfmaeroengines.com or follow us on Twitter @CFM_engines.
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