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Avolon expands CFM portfolio with 150 LEAP-1A engine order
- Largest ever LEAP-1A order from a lessor
- Agreement includes options for 150 additional engines
Avolon, a leading global aviation finance company, today announced an order for 150 LEAP-1A engines to power 75 new Airbus A320neo family aircraft. The agreement also includes purchase rights for 150 additional LEAP-1A engines.
"Engine innovation has been one of the key tools to lower emissions and support the industry's decarbonization journey. We are delighted to continue our strong partnership with CFM International."
—Andy Cronin, CEO of Avolon
"These engines will power our orderbook of A320neo family aircraft and put us in an excellent position to service our customers narrowbody requirements out to 2030 and beyond," said Andy Cronin, CEO of Avolon. "Engine innovation has been one of the key tools to lower emissions and support the industry's decarbonization journey. We are delighted to continue our strong partnership with CFM International, and excited about leveraging their engines to support the transition of our fleet to more fuel-efficient technology."
Avolon, which has been a CFM customer since its launch in 2010, has a portfolio of 323 CFM-powered aircraft, including CFM56 and LEAP, as well as 180 aircraft powered by LEAP engines on order.
"Avolon and CFM have built a fantastic partnership, and we are honored by the continued trust this order shows," said Gaël Méheust, president and CEO of CFM International. "We are proud of the part we have played in Avalon's growth and success. Our promise now is to continue providing the world-class products and support on which they and their customers rely every day."
The CFM LEAP engine family delivers 15 to 20 percent lower fuel consumption and CO2 emissions, as well as a significant improvement in noise, compared to previous generation engines. With more than 3,300 LEAP-powered aircraft in service, the engine has allowed CFM customers to avoid 35 million tons of CO2 emissions*. The engine has been the most successful new product introduction in CFM's 50-year history, with the fastest ramp-up of engine flight hours ever in the industry – surpassing 50 million hours in just eight years.
*Compared to the same flights powered by CFM56 engines.
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