SMBC Aviation Capital, one of the world’s largest aircraft leasing companies, announced it has ordered forty CFM International LEAP-1A engines to power 20 additional Airbus A320neo aircraft. The engine order is valued at $588 million U.S. at list price.
A long-time CFM customer, Dublin-based SMBC Aviation Capital currently has a fleet of more than 350 aircraft powered by CFM56 and LEAP engines in service or on order.
“Our customers are very satisfied with the LEAP-1A engines in their fleets. This engine is delivering everything CFM promised and has become a valuable asset,” said Peter Barrett, CEO of SMBC Aviation Capital. “SMBC Aviation Capital has a large portfolio of CFM-powered aircraft today and we are obviously pleased by the continued confidence they show in our products,” said Gaël Méheust, president and CEO of CFM International. “We are proud of the positive impact our engines have had on the long-term profitability of their airline customers and look forward to growing this important relationship well into the future.”
The LEAP-1A engine is providing operators with a 15 percent improvement in fuel consumption and CO2 emissions, along with dramatic reductions in engine noise and exhaust gaseous emissions. All this technology is focused on providing better utilization, including CFM’s legendary reliability out of the box; greater asset availability; enhanced time on wing margins to help keep maintenance costs low; and minimized maintenance actions, all supported by sophisticated analytics that enable CFM to provide tailored, predictive maintenance over the life of the product.