VEB Leasing signs $1.2 billion agreementsfor CFM LEAP engines

LE BOURGET, France — 21 June 2017 — Russia’s VEB Leasing today announced an order for CFM International LEAP-1A engines to power 20 new Airbus A320neo/A321neo aircraft scheduled to begin delivery in 2019. In addition, the leasing company also has firm orders for LEAP-1B engines to power 22 new Boeing 737 MAX aircraft with deliveries scheduled to begin in 2018

CFM values these two agreements at more than $1.2 billion U.S. at list price.

“We are very pleased by the prospect of introducing LEAP engines into our portfolio: said Iurii Gaichenia, acting general director of VEB Leasing, “The engine is building a very good reputation in service and we believe it will become a real asset for us and our customer,”

“We are very pleased to welcome VEB Leasing as our first LEAP-1A customer in Russia,” said Gaël Méheust president and CEO of CFM International. “We appreciate their confidence in the LEAP product line and look forwarding to building on our relationship going forward,”

The LEAP-1A engine entered commercial service in August 2016 and is providing its 14 operators with a significant improvement in fuel efficiency, significant reduction in CO2 emissions; and lower noise and NOx emissions. The LEAP-1B followed in May 2017. 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 traditional industry recognized reliability.