SMBC Aviation Capital orders additional CFM LEAP-1A engines
• Order valued at $140 million U.S. at list price
• Company now has 35 aircraft on order with LEAP-1A engines
WEST CHESTER, Ohio — 19 May 2016 — SMBC Aviation Capital, the world's third largest aircraft leasing company, announced it has ordered ten CFM International LEAP-1A engines to power five additional Airbus A320neo aircraft. The engine order is valued at $140 million U.S. at list price.
This is a follow-on to SMBC Aviation Capital's initial LEAP-1A order for 60 engines that the company announced at the 2015 Paris Air Show in June 2015 and the aircraft are part of 2014 Airbus order.
A long-time CFM customer, Dublin-based SMBC Aviation Capital currently has a fleet of more than 350 aircraft powered by CFM56 and LEAP engines in service or on order.
"We are very pleased with the performance of the LEAP-1A engine during its ground and flight test program," said Peter Barrett, CEO of SMBC Aviation Capital. "This engine is on track to deliver the reliability our customers have come to expect from CFM and we look forward to introducing it into our portfolio."
"SMBC Aviation Capital has a large portfolio of CFM-powered aircraft today and we are obviously pleased by the continued confidence they show in our products," said Jean-Paul Ebanga, president and CEO of CFM International. "We are proud of the positive impact our engines have had on the long-term profitability of their airline customers and look forward to growing this important relationship well into the future."
The LEAP-1A engine is on track for entry into service in mid-2016 and will provide operators with a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; a 50 percent margin to new emissions regulations; a dramatically lower noise signature; and CFM's industry-leading reliability and low overall operating costs.
About SMBC Aviation Capital
SMBC Aviation Capital is the world's third largest aircraft leasing company, with over 150 airline and investment customers in over 50 countries. As at March 31 2016, the company owns, manages and is committed to 665 aircraft valued at c$16billion. Established in 2001, the company rebranded to SMBC Aviation Capital in 2012, following its $7.3 billion acquisition by a consortium comprising of two of Japan's biggest companies SMFG and Sumitomo Corporation. The company has 160 people across 10 global locations. For more information, visit smbc.aero
About CFM International
LEAP engines are a product of CFM International, a 50/50 joint company between Snecma (Safran) and GE and the world's leading supplier of commercial aircraft engines, with more than 29,000 delivered to operators around the globe. Through April 30, the company had received orders and commitments for a total of more than 10,500 LEAP engines. For more information, visit us at www.cfmaeroengines.com or follow us on Twitter @CFM_engines
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