China's CDB Leasing places $1.26 billion CFM LEAP-1A engine order
- First Chinese lessor to order all LEAP engine models (-1A/-1B/-1C)
ZHUHAI, China – 1 November 2016 – CDB Leasing has selected CFM LEAP-1A engines to power 100 percent of its first batch of next generation single-aisle aircraft orders. The firm engine order is valued at $1.26 billion U.S. at list price and deliveries are scheduled between 2018 and 2021.
“We believe our customers will benefit greatly from operating the highly efficient, reliable LEAP-1A engines,” said the president of CDB Leasing. “What we have seen of the engine’s performance in commercial service so far has given us great confidence that it is the right engine for our new single aisle aircraft and will provide the operating economics our customers expect, that will substantially reduce emissions which is consistent with CDB Leasing’s Green Growth core value.”
“We are so pleased by CDB Leasing’s trust in our products and service,” said Jean-Paul Ebanga, president and CEO of CFM International. “CFM is committed to providing our best support to our operators and leasing company customers, to support their goals of providing passengers with the highest quality air travel.“
The LEAP-1A engine entered commercial service on August 2, 2016. A total of 10 aircraft have been delivered to date and the in-service fleet has logged nearly 3,000 flights to date. The engine is delivering the promised 15 percent improvement in fuel efficiency, along 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 China Development Bank Financial Leasing Co., Ltd.
Founded in 1984, China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) was one of the first leasing companies in the PRC and one of the first CBRC-regulated leasing companies and the first IPO financial leasing company in China. CDB Leasing is the sole leasing business platform and one of the key strategic business segments of CDB, dedicated to providing comprehensive leasing services to high-quality customers. The company owns and manages more than 400 aircraft and ranks as one of the world’s Top 10 aviation leasing companies.
About CFM International
LEAP-1A engines are a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines and the world’s leading supplier of commercial aircraft engines. To date, the company has garnered orders and commitments for more than 11,500 LEAP engines, making it the fastest-selling engine in aviation history. For more information concerning CFM, visit us on the Web at www.cfmaeroengines.com or follow us on Twitter @CFM_engines