PARIS, 19 June 2013. International Lease Finance Corp. (ILFC), a wholly owned subsidiary of American International Group Inc. (NYSE:AIG), has expanded its order of CFM International’s LEAP-1A engines to power an additional 20 Airbus A320neo Family aircraft, bringing the total of its LEAP-powered A320neo Family aircraft to 60.
This newest engine order is valued at $510 million U.S. at list price. The aircraft are scheduled for delivery beginning in 2016.
“Expanding our order for the LEAP engines to power more of ILFC’s Airbus A320neo Family aircraft is a reflection of our company’s long-standing commitment to providing our global customers with a choice of the industry’s most technologically advanced products,” says ILFC Chief Executive Officer Henri Courpron. “CFM is our largest aircraft engine supplier, and we continue to look to the manufacturer’s future engine generation for advancements in new technologies that offer operational and economic efficiencies for our customers’ fleets.”
“We are excited to bring all of the benefits of LEAP technology─double-digit improvements in fuel burn, noise, and carbon and NOx emissions with CFM reliability─to ILFC and its customers,” says Kevin McAllister, vice president of sales for CFM parent company GE Aviation.
Compared to today’s best engines, LEAP engines are expected to provide ILFC customers with 15 percent better fuel efficiency, which equates to an equal reduction in CO2 emissions; a 50 percent margin compared to today’s oxides of nitrogen (NOx) requirements; and meet the newly announced 2018 ICAO noise requirements with significant margin.
The LEAP engine family is a product of CFM International, a 50/50 joint company between Snecma (Safran) and GE.