ALC expands CFM LEAP-1A fleet with $725 M order

Air Lease Corporation (NYSE: AL) today announced that it has selected CFM International's advanced LEAP-1A engine to power 25 additional Airbus A320neo family aircraft  CFM values the order at $725 million U.S. at list price.  The aircraft were originally announced in 2015 are scheduled for delivery between 2019 and 2022.

"We have been very impressed by what we have seen the LEAP-1A engine do in airline service," said Steven F. Udvar-Házy, Air Lease Corporation's Chairman and Chief Executive Officer. "The fuel efficiency, asset utilization, and world-class reliability are going to make it a big asset in our portfolio."

"This order represents a big vote of confidence from ALC and we are delighted that they have chosen to further expand their LEAP fleet," said Gaël Méheust, president and CEO of CFM International.  "The LEAP-1A has been doing phenomenally well in commercial service and we believe that follow-on order such as this one reflect the level of confidence the industry has in this product."

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Source: Safran S.A. (Paris: SAF.PA)
Date: Jun 21, 2017