flynas signs Letter of Agreement for CFM LEAP-1A engines
PARIS, France — 10 April 2018 — Saudi Arabia's leading low-cost carrier, flynas, today signed a Letter of Agreement with CFM International for the purchase of 160 LEAP-1A engines to power 80 Airbus A320neo aircraft, along with a long-term services agreement on a pay by-the-hour basis.
The signing ceremony was attended by Ayed Al Jeaid – Chairman of flynas and Bander Al Mohanna – Chief Executive Officer of flynas and Philippe Couteaux, Executive Vice President of Sales and Marketing for Safran/CFM International.
Once finalized, the engine purchase commitment and the services agreement are valued at $6.3 billion U.S. at list price. The aircraft order was announced in January 2017 and the first deliveries of the LEAP-1A-powered-A320neo are scheduled to begin by the end of this year.
"We are extremely pleased to begin a new chapter in our relationship with CFM International," said Bander Al Mohanna, chief executive officer, NAS Holding Group. "We look forward to introducing the LEAP-1A engine into our fleet to allow us to further optimize our operational efficiency."
flynas has been a CFM customer since it began operations in 2007 with leased CFM56-5B-powered A320ceo. The Saudi carrier currently operates a fleet of 28 aircraft.
"It is an honor to extend our partnership with flynas by providing the LEAP-1A engine," said Philippe Couteaux, executive vice president of Sales and Marketing for CFM parent company Safran Aircraft Engines. "We look forward to bringing them all the benefits of the advanced LEAP engine to its fleet as part of the airline's continuous growth in the Middle East."
The LEAP engine entered commercial service in August 2016 and is providing more than 40 operators with a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions, coupled with lower noise and NOx emissions. To date, the fleet in service has logged more than 900,000 engine flight hours and 450,000 engine flight cycles while maintaining CFM's industry-leading reliability.
Established in 2007, flynas is the national Saudi Arabian carrier and a leading low-cost airline in the Middle East. It operates a fleet of 30 Airbus A320ceo aircraft on more than 1,100 flights per week to 17 domestic destinations and 53 international destinations. Since its launch, flynas has successfully carried more than 38 million passengers from its bases of Riyadh, Jeddah, Dammam, and Abha.
The airline's high-value offerings, including on-time performance and superior customer service, has earned flynas the award for Middle East's Leading Low-Cost Airline from World Travel Awards in 2015, 2016, 2017, and 2018, as well as the prestigious Skytrax Award for Middle East's Best Low-Cost Airline in 2017.
Continuing to grow and invest in its products and brand, flynas unveiled a new modern identity in 2013, and made significant investments in 2014, enhancing its aircraft fleet, introducing a dedicated Business class, launching new diversified services. flynas further expanded its partnership portfolio with the signing of an agreement with Airbus to purchase 120 new A320neo aircraft at a list value of US$8.6 billion, which is considered the second largest agreement in the region. In addition, the airline has signed codeshare agreements with Etihad Airways, Pegasus Airlines and Jet Airways.
For more information, visit www.flynas.com
About CFM International
LEAP-1A engines are a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. CFM is the world's leading supplier of commercial aircraft engines and the LEAP engine has become the preferred choice for next-generation single-aisle aircraft, with more than 15,000 orders received to date. For more information concerning CFM, visit us on the Web at www.cfmaeroengines.com or follow us on Twitter @CFM engines.