ALC Selects LEAP-1A in New $1.0 Bn Engine Order

Air Lease Corporation (NYSE: AL) has selected CFM International’s advanced LEAP-1A engine to power 34 previously announced Airbus A321neo aircraft in an order valued at just over $1.0 billion U.S. at list price.

Air Lease Corporation (ALC) specializes in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized leasing and financing solutions.

The LEAP engine family continues to perform exceptionally well in commercial service.  There are 61 airlines currently operating more than 385 aircraft on five continents.  Overall, the fleet has logged more than 700,000 flight cycles and 1.5 million engine flight hours while maintaining CFM’s industry-leading reliability and the highest utilization rate in its thrust class.  The engine is delivering a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions.