• Will lease additional LEAP-powered aircraft
• Becomes new CFM customer
Al-Qahtani Aviation, parent company of SaudiGulf Airlines, and CFM International today signed a purchase agreement for LEAP-1A engines to power 10 firm, 10 option A320neo family aircraft that are scheduled to begin delivery in 2023. The value of the agreement, which includes the firm engine order and a long-term service agreement, is more than $1.0 billion US at list price.
The airline is also leasing an additional 20 LEAP-powered A320neo aircraft and plans to take its first aircraft in 2020.
To support the entire fleet, including the leased aircraft, the airline has also signed a 12-year Rate per Flight Hour agreement under the terms of which CFM will provide maintenance support on a dollar per flight hour basis.
"We are looking forward to working with CFM with our future fleet," said Sheikh Tariq Abdulhadi Al Qahtani, Chairman of Al-Qahtani Aviation and SaudiGulf Airlines. "The LEAP engine has gained a very good reputation for fuel efficiency, reliability and daily asset utilization, both of which will be important to our operations as we support the continued development and growth of the Saudi aviation sector in support of the Saudi Vision 2030."
"We are honored to welcome SaudiGulf Airlines to the CFM family of operators," said Gaël Méheust, president and CEO of CFM International. "We look forward to working with this airline to introduce the LEAP-1A engine into its fleet and demonstrate the very high level of support and collaboration CFM can bring to its customers."