(The following press release from General Electric Corp. was received by
e-mail. The sender verified the statement.)
Air Lease Corporation places $520 million order for CFM LEAP-1B engines
* Takes total LEAP-1B orders to 208 engines
FARNBOROUGH, England - 15 July 2014 - Air Lease Corporation (NYSE: AL) today
announced an order for a total of 40 LEAP-1B engines to power 10 new Boeing 737
MAX 8 aircraft as well as engines for 10 additional MAX 8 aircraft that were
part of a previously unidentified order. CFM values the total order at $520
million U.S. at list price.
"We believe the LEAP-1B-powered Boeing 737 MAX 8 aircraft will be a key part of
our fleet going forward," said Steven F. Udvar-Házy, Air Lease Corporation's
Chairman and Chief Executive Officer. "These advanced technology engines
deliver higher efficiency and reliability, which is paramount to the
operational stability and success of our airline customers."
Air Lease Corporation (ALC) specializes in purchasing new commercial aircraft
and leasing them to its airline customers worldwide through customized leasing
and financing solutions.
The LEAP-1B, which is the sole powerplant for the Boeing 737 MAX, began ground
testing in June 2014 three days ahead of schedule. The engine is part of the
most extensive ground and flight test certification program in the company's
history and will encompass 60 engine builds over the next three years and will
accumulate approximately 40,000 cycles before entry into service.
"We have every confidence that the LEAP engine will quickly become a valued
asset in the Air Lease portfolio," said Jean-Paul Ebanga, president and CEO of
CFM International Jean-Paul Ebanga. "As we continue to test these engines, our
confidence in the technology choices we have made continues to grow as does our
assurance that the LEAP product family will continue to be the engine of choice
for single-aisle aircraft."
""We are very pleased that Air Lease continues to place its trust in CFM
engines," said Chaker Chahrour, vice president and general manager of Global
Sales & Marketing for CFM parent company GE Aviation. "Reliability and
operating economics are more important for airlines than ever. This vote of
confidence from ALC signifies that they believe the LEAP-1B will deliver on
both of those metrics."
About Air Lease Corporation (NYSE: AL)
ALC is a leading aircraft leasing company based in Los Angeles, California,
that has airline customers throughout the world. ALC and its team of dedicated
and experienced professionals are principally engaged in purchasing commercial
aircraft and leasing them to its airline customers worldwide through customized
aircraft leasing and financing solutions. For more information, visit ALC's
website at www.airleasecorp.com.
About CFM International
LEAP engines are a product of CFM International, a 50/50 joint company between
Snecma (Safran) and GE. CFM is the world's leading supplier of commercial
aircraft engines and has delivered more than 26,500 CFM56 engines to date. For
more information, visit us at www.cfmaeroengines.com or follow us on Twitter
For more information, contact:
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