Peach Aviation places $294 million LEAP-1A engine order

Le Bourget, France June 17, 2019 Photo(s): By CFM International
CFM President and CEO Gaël Méheust (L) with Peach Representative Director and CEO Shinichi Inoue

Peach Aviation Ltd. (Peach) and CFM International today signed an agreement for the purchase of 20 LEAP-1A engines to power the airline's new fleet of Airbus A320neo family aircraft. The agreement is valued at $294 million U.S. at list price; the aircraft were ordered in 2016.

Peach has been a CFM customer since the airline launched commercial service with CFM56-5B-powered Airbus A320ceo aircraft in 2012. Today, the airline operates a fleet of 26 CFM-powered aircraft.

"We are very happy to expand our great relationship with CFM International. We believe that the LEAP-powered A320neo aircraft will strengthen our position in the competitive Japanese aviation market. The daily utilization, fuel efficiency, and environmental benefits this engine brings will make it an important asset for our sustainable growth." said Shinichi Inoue, CEO of Peach Aviation.

"We are very excited to launch this next chapter with Peach," said Gaël Méheust, president and CEO of CFM International. "We very much look forward to helping them introduce the LEAP engine into their fleet.

The LEAP engine entered commercial service in 2016 and is providing its more than 100 operators worldwide with a 15% percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions. To date, the fleet in service has logged nearly 5 million engine flight hours.