Air Lease Corporation expands CFM LEAP-1A fleet with $725 million order

LE BOURGET, France —20 June 2017 — Air Lease Corporation (NYSE: AL) has selected CFM International’s advanced LEAP-1A engine to power 25 additional Airbus A320neo family aircraft CFM values the order at $725 million U.S. at list price. The engines are for option aircraft previously announced and are scheduled for delivery between 2019 and 2022.

“We have been very impressed by what we have seen the LEAP-1A engine do in airline service,” said Steven F. Udvar-Házy, Air Lease Corporation Executive Chairman. “The fuel efficiency, high asset utilization, and world-class support are going to make it a big asset in our portfolio.”

Air Lease Corporation (ALC) specializes in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized leasing and financing solutions.

“This order represents a big vote of confidence from ALC and we are delighted that they have chosen to further expand their LEAP fleet,” said Gaël Méheust, president and CEO of CFM International. “The LEAP-1A has been doing phenomenally well in commercial service and we believe that follow-on order such as this one reflect the level of confidence the industry has in this product.”

Since the first LEAP-1A-powered A320neo aircraft entered service in August 2016, the engine has been delivered to 14 operators worldwide. The fleet is delivering 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 more than 77,000 engine flight cycles and more than 145,000 engine flight hours while maintaining CFM’s industry-leading reliability.