Zhejiang Loong Air signs LEAP-1A Rate-Per-Flight-Hour Agreement

Le Bourget, France, June 17, 2019

Zhejiang Loong Air has signed a 12-year Rate-Per-Flight-Hour Agreement with CFM International for 40 LEAP-1A engines powering the airline's fleet of leased Airbus A320neo/A321neo aircraft. The agreement is valued at $800 million U.S. at list price.

RPFH agreements are part of CFM's portfolio of flexible aftermarket support offerings. Under the terms of the agreement, CFM Services guarantees maintenance costs for the airlines LEAP-1A engines on a dollar per engine flight hour basis.

"As the launch customer of LEAP-1A in Greater China, we are satisfied with the engine's excellent operating performance since it entered service last year. We are pleased to expand our cooperation with CFM for the support of our fleet. We believe the professional aftermarket service from CFM will facilitate our rapid growth and long-term development." said Qihong Liu, chairman of Zhejiang Loong Air.

"We appreciate the trust this agreement shows in CFM and are honored to expand our already solid relationship with Loong Air," said Gaël Méheust, president and CEO of CFM International. "Loong Air has chosen CFM engines since its inception - its current fleet in service is 100 percent powered by CFM engines – and today's maintenance agreement will help maintain the long-term value of its engines."