Aug 11, 2022
PTS Aviation, LLC, a StandardAero company, has signed a comprehensive 5-year aircraft engine lease agreement (ELA) with a major aircraft and engine lessor based in the United Arab Emirates, which is effective immediately. The initial ELA establishes the lease-to-purchase of one serviceable OEM-maintained, high-cycle remaining CFM56-7B26 engine for a 60-month term, during a crucial period of projected air traffic recovery and growth in Europe.
This lease agreement represents PTS Aviation’s fourth publicly announced transaction since StandardAero signed a definitive agreement to purchase the company December 2021, a deal which marked StandardAero’s tenth acquisition since March 2015. Founded in 1995, PTS has over 150 years of combined aviation management experience and significant expertise buying, leasing and selling engines, modules and high quality used serviceable material (USM).
Commentating on the transaction, David Blackburn, Senior Vice President of Asset Leasing & Trading for PTS Aviation, LLC said: “The amazing team here at PTS Aviation provided a creative and unique engine leasing solution tailored to a UAE-based lessor and an end-user operator which will be offering cost-effective Boeing 737NG ACMI services to support various airlines throughout Europe. PTS Aviation will continue to work tirelessly and diligently to effectively support the on-going recovery in air travel worldwide. We look forward to offering our customers additional cost-effective solutions by leveraging our engine leasing and USM capabilities in support of the comprehensive and expanding CFM56-7B maintenance repair and overhaul services offered by StandardAero.”
PTS Aviation, LLC, headquartered in Miramar, FL, is a worldwide supplier of high quality used serviceable material for the CFM56-3B/C, -5A/B, and-7B powerplant systems. StandardAero is an OEM authorized independent MRO provider and GE Designated Fulfillment Center for the CFM56-7B from its 162,000 square foot facility in Winnipeg, MB, Canada. As announced in April, StandardAero is now further expanding its CFM56-7B capabilities, with a hospital shop capability to be established in Dallas-Fort Worth (DFW) by the year’s end, and with engine test capability in DFW to follow in the first half of 2023.