Air Lease Corporation places $1.9 billion LEAP-1B order
Order is valued at $1.9 billion U.S.
FARNBOROUGH, England -- Air Lease Corporation (ALC) today announced an order for 60 LEAP-1B-powered Boeing 737 MAX 8 and 15 737 MAX 9 aircraft. The engine order is valued at approximately $1.9 billion U.S. at list price.
Air Lease Corporation (ALC), formed in 2010, specializes in purchasingcommercial aircraft and leasing them to its airline partners worldwide through customized leasing and financing solutions.
"We are pleased that ALC has chosen to add the LEAP-1B to its growing portfolio of CFM engines," said Jean-Paul Ebanga, president and CEO of CFM International"
"We look forward to continuing to build a strong relationship with ALC and are excited to bring all the benefit of LEAP technology to their customers," said Kevin McAllister, vice president of Global Sales for CFM parent company GE Aviation.
The LEAP-1B, which is the result of an exhaustive six-year collaboration effort with Boeing, is the exclusive powerplant for the new 737 variant, with the engine uniquely optimized for the airplane. The 737 MAX continues a 30-year relationship between CFM and Boeing; CFM engines have been the sole powerplant for all 737 aircraft sold since 1981.
LEAP engines incorporate revolutionary technologies never before seen in the single-aisle aircraft segment. The new engine combines advanced aerodynamic design techniques, lighter, more durable materials, and leading-edge environmental technologies, making it amajor breakthrough in engine technology.
As a result, operators of the 737 MAX will achieve 10 – 12 percent lower fuel burn compared to today's best CFM56-powered 737; an equivalent reduction in carbon emissions; a 50 percent reduction in NOx emissions versus current ICAO CAEP/6 requirements; a 75 percent reduction in the aircraft noise footprint; all while maintaining the benefits of CFM's legendary reliability and low maintenance costs.
LEAP engines are a product of CFM International a 50/50 joint company between Snecma (Safran group) and GE.
About Air Lease Corporation (NYSE: AL) ALC is an aircraft leasing company based in Los Angeles, California, that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC'swebsite at www.airleasecorp.com.