Air Lease Corporate Selected CFM56-5B Engine in $380 Million Order

LE BOURGET, France – 22 June 2011 – Air Lease Corporation (ALC) has selected CFM International’s CFM56-5B engine to power 20 firm Airbus A320 family aircraft. The aircraft are scheduled for delivery between 2012 and 2016 and the order is valued at $380 million U.S. at list price. The airplanes were previously announced at the 2010 Farnborough Air Show.

Air Lease Corporation (ALC), formed in 2010, specializes in purchasing commercial aircraft and leasing them to its airline partners worldwide through customized leasing and financing solutions. For more information, visit www.airleasecorp.com

All of the engines will be the CFM56-5B Performance Improvement Package (PIP) configuration, scheduled for certification and entry into service by the end of 2011. The improvements, which provide a 0.5% improvement in fuel burn, include hardware changes to the core, including new high-pressure turbine blade, as well as manufacturing changes the fan and compressor blades and vanes to improve performance retention. The engine will maintain the same noise signature as the current production engine. These engines also meet current International Civil Aviation Organisation (ICAO) Committee of Aviation Environmental Protection standards (CAEP /6) requirements.

CFM56-5B engines are a product of CFM International, a 50/50 joint company between Snecma (Safran group) and GE. CFM, the world's leading supplier of commercial aircraft engines, has delivered more than 22,200 engines to date. The CFM56-5B engine powers every model of the Airbus A320 family and has been chosen to power nearly 60 percent of all A320 aircraft in service or on order.