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CFM and Avolon sign agreement for 80 LEAP-1B engines

Business

  • Leading lessor has a committed fleet of more than 400 CFM-powered aircraft

LE BOURGET, France – 20 June 2023 – CFM International is partnering with Avolon, the international aircraft leasing company, to provide 80 CFM International LEAP-1B engines for Avolon’s recent order of 40 Boeing 737 MAX family aircraft. The new aircraft are scheduled for delivery between 2027 and 2030.

“We are pleased to partner with Avolon and grateful for their continued confidence in the LEAP engine,” said Gaël Méheust, president & CEO of CFM International. “The LEAP-1B is doing incredibly well in commercial service. Every day, the LEAP product is delivering world-class fuel efficiency and utilization, fulfilling the commitment we made to customers.”

“We are delighted to continue our long-term standing relationship with CFM,” said Andy Cronin, CEO of Avolon. “This commitment reinforces Avolon’s effort to increase the proportion of new-technology, fuel-efficient aircraft in our fleet, supported by the 737 MAX’s use of the latest LEAP-1B engines.”

Avolon, which has been a CFM customer since the company was launched in 2010, has a committed fleet of more than 400 CFM-powered aircraft in its portfolio.

The advanced LEAP engine family has the fastest accumulations of flight hours in commercial aviation history, amassing more than 33 million engine flight hours and 15 million flight cycles. Since entering service, the LEAP-1B engine has accumulated more than10.5 million flight hours and 4 million cycles.

LEAP is providing 15 to 20 percent better fuel consumption and lower CO2 emissions, as well as a significant improvement in noise compared to previous generation engines. Since its entry into service in 2016, the LEAP engine has allowed our customers to save more than 20 million tons of CO2 compared to the same flights operated using aircraft powered by previous generation engines.

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About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore and Hong Kong, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems Limited, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is a global leader in aircraft leasing with an owned, managed and committed fleet, as of 31 March 2023 of 830 aircraft. www.avolon.aero

About CFM International

A 50/50 joint venture between GE Aerospace and Safran Aircraft Engines, CFM International has redefined international cooperation and helped change the course of commercial aviation since its founding in 1974.

Today, CFM is the world's leading supplier of commercial aircraft engines with a product line that sets the industry standard for efficiency, reliability, durability, and optimized cost of ownership. CFM International produces the LEAP family of engines and supports LEAP and CFM56 fleets for operators worldwide. www.cfmaeroengines.com

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  • © Safran