CFM and Aviation Capital Group announce order for LEAP-1B engines to power 20 additional Boeing 737 MAX aircraft
- Brings total direct-buy LEAP-1B-powered portfolio to 100 aircraft
FARNBOROUGH, England — CFM International and Aviation Capital Group LLC (ACG) today announced an order for LEAP-1B engines to power 20 additional Boeing 737 MAX aircraft just announced. CFM values the order at U.S. $528 million at list price.
“We are pleased by what we have seen of the LEAP-1B-powered 737 MAX in commercial service,” said Khanh T. Tran, CEO of ACG. “Our customers like this airplane and it is proving to be a very good investment for ACG.”
The LEAP engine family continues to perform exceptionally well in commercial service. There are 61 airlines currently operating more than 385 aircraft powered by LEAP engines 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 this 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.
About Aviation Capital Group
Aviation Capital Group is one of the world’s premier full-service aircraft asset managers with approximately 465 owned, managed and committed aircraft, which are leased to approximately 95 airlines in approximately 45 countries. ACG was founded in 1989 and is an indirect wholly-owned subsidiary of Pacific Life Insurance Company.
About CFM International
The LEAP engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. This engine has experienced the fastest order ramp up in commercial aviation history.