Showing posts with label Engines. Show all posts
Showing posts with label Engines. Show all posts

26 September, 2024

.airBaltic and Pratt & Whitney fix long-term engine maintenance deal

Airbus A220 operator airBaltic and Pratt & Whitney have confirmed a new long-term EngineWise Comprehensive maintenance services agreement for the airline’s geared turbofan (GTF) engine fleet. This agreement, structured on a power-by-the-hour model, links airBaltic’s maintenance costs to the utilization of the airline’s engines.

Martin Gauss, President and CEO of airBaltic: “Pratt & Whitney has been a long-term, trusted partner of airBaltic since we became the global launch operator of the Airbus A220-300 aircraft type back in 2016. The aircraft’s PW1500G GTF engines have delivered a 25% reduction in fuel burn per seat compared to previous generations, resulting in significant cost savings. This agreement will support the growth plans of airBaltic towards a 100 Airbus A220-300 fleet by the year 2030. We are looking forward to many more years of successful cooperation with Pratt & Whitney.”

“We will provide long-term support to airBaltic to optimize fleet performance as they expand their route network,” said Rick Deurloo, President of Commercial Engines at Pratt & Whitney. “We appreciate the airline’s continued confidence in the GTF engine and the value it provides with industry-leading fuel efficiency, lower carbon emissions and smaller noise footprint. Together, we share a strong commitment to make air travel more accessible while reducing the environmental impact.”

The 17-year per-engine agreement provides airBaltic with greater transparency and predictability in maintenance planning and associated costs.

18 September, 2024

After 50 years, the F100 is going hypersonic


It’s sleek and shimmering, gliding through sun-tinted clouds. It’s moving at nearly four times the speed of sound – faster than the famous SR-71 Blackbird, which set the airspeed record some 50 years ago.



Its name is Quarterhorse, its mission is to be the world’s first high-Mach autonomous aircraft, and its creator is the U.S. startup company Hermeus.

But powering the futuristic aircraft and its ambitious goals is an engine familiar to aviation enthusiasts – the Pratt & Whitney F100.

Rather than build a new engine, Hermeus will use a modified F100, a propulsion system with 30 million flight hours and a track record aboard the F-15 Eagle and F-16 Falcon, which celebrates 50 years of flight in 2024.

Now, the engine is looking toward its next 50 years.


“Fifty years of life combined with the opportunity to remain in service for another 50 years is something that’s unique,” said Josh Goodman, senior director of the F100 program. “Pratt likes to do hard things, and utilizing the F100 in this solution gives us the opportunity to once again go solve hard problems.”

But first, Hermeus must prove its Chimera turbine-based combined cycle engine, which will use the F100 as its gas turbine, can achieve hypersonic speeds for Darkhorse, an uncrewed multi-mission military aircraft that would fly through contested environments at Mach 5+.

Then, it will build its third aircraft, Halcyon, a 20-passenger commercial aircraft that would make the New York-Paris flight with a yet-to-be-determined engine.

“People see it as ambitious, a little crazy,” said A.J. Piplica, Hermeus’ co-founder and CEO, “but also highly grounded in rational, realistic roadmaps to get there.”

The F100 will appear in the third prototype of Quarterhorse in 2025, where it will help the vehicle surpass Mach 2.5. Then, in the fourth prototype, it will help solve an especially hard problem called mode transition, which is when the propulsion system switches from turbo to ramjet during flight.



Here’s how they’ll do it.


The Chimera engine works a little like a car’s manual transmission system, but rather than changing gears to go faster, the engine changes propulsion systems.

For speeds up to about Mach 2, the Chimera engine will use a turbine propulsion system, where an engine creates thrust by taking in air, compressing it and igniting it. For anything faster, it switches to its ramjet system, which needs no compressor because the air around it is already moving so fast.

Something called a precooler – a clever way of getting more performance out of the turbine engine – will help the two systems work together. By lowering the temperature of the air it takes in, the precooler gives the turbine more headroom to work harder and get the aircraft up to higher speeds.

Hermeus has already completed two major milestones by proving mode transition and precooler technologies in separate lab-based tests.

17 September, 2024

StandardAero provides CFM LEAP-1B engine services to Corendon Airlines

StandardAero has signed a non-exclusive agreement Corendon Airlines to provide CFM International LEAP-1B engine services in support of the carrier’s fleet of Boeing 737 MAX 8 aircraft.  

StandardAero has already inducted Corendon’s first LEAP-1B engine, for a Continued Time Engine Maintenance (CTEM) shop visit.  In addition to the LEAP-powered MAX fleet, Corendon also operates Boeing 737-800 jets powered by CFM56-7B engines.  This new agreement extends StandardAero’s existing relationship with Corendon on the CFM56-7B.

Will Pitcher, Senior Vice President of Sales, Marketing and Customers for StandardAero’s Airlines & Fleets division, said:  “StandardAero is proud to have been entrusted by Corendon Airlines to provide LEAP-1B MRO services, adding Türkiye to our growing list of LEAP-1A and LEAP-1B customer nations.  We value the confidence shown by Corendon in our San Antonio-based LEAP team, and look forward to meeting the service expectations of Corendon and its passengers for many years to come.”

27 July, 2024

RTX's Pratt & Whitney, Embraer and OGMA announce first GTF engine induction

Pratt & Whitney and OGMA Indústria Aeronáutica de Portugal S.A. ("OGMA"), an Embraer company, announced today the induction of the first Pratt & Whitney GTF™ engine at OGMA during the inaugural opening of the Alverca-based facility.

"This marks a significant milestone in our expanding relationship with OGMA and Embraer, furthering our commitment to providing global industry-leading service and support to increase GTF MRO capacity," said Marc Meredith, vice president of aftermarket for GTF engines at Pratt & Whitney. "OGMA brings more than a century of maintenance expertise to the network and will provide critical support for the growing GTF fleet in Europe."

The Embraer company joined the GTF MRO network in 2020 to provide disassembly, assembly and test capability for the PW1100G-JM engine, which powers the Airbus A320neo aircraft family. In 2021, OGMA announced that it will add capability for the PW1900G engine, which powers the Embraer E190-E2 and E195-E2 aircraft.

25 July, 2024

RTX's Pratt & Whitney GTF Engines Surpass 950 Orders and Commitments in 2024

More than 11,000 GTF orders and commitments programme to date



Pratt & Whitney, announced more than 950 GTF engine orders and commitments since the beginning of 2024. Airlines and lessors that have announced orders include Avolon, Breeze Airways, Cebu Pacific, Icelandair, JetSMART, Mexicana, SKY Airline, SMBC, and Vietjet. In total, more than 11,000 GTF engine orders and commitments have been placed by more than 90 customers worldwide.

"These orders demonstrate continued customer confidence in Pratt & Whitney and the value the GTF engine offers with its world-class economic and environmental benefits," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "The GTF Advantage engine will extend this lead while providing more thrust and higher durability. We remain focused on executing all elements of the GTF fleet management plan including industrial output and material flow, GTF maintenance, repair and overhaul network expansion and ongoing customer support."  

The GTF delivers up to 20% better fuel efficiency than previous generation engines, saving airlines more than 1.7 billion gallons of fuel and the planet over 17 million metric tons of carbon emissions. GTF engines will continue to drive reductions in operating costs, new routes and revenue, and progress towards meeting the industry's sustainability goals. The engine's revolutionary geared fan architecture is the foundation for even more efficient propulsion technologies in the decades ahead.



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RTX's Pratt & Whitney GTF engines to power 11 Airbus A220 aircraft for Air Niugini

Pratt & Whitney and Air Niugini have finalized engine and aftermarket agreements for the GTF engines that will power the airline's fleet of 11 Airbus A220 aircraft. Pratt & Whitney will provide a full suite of support services with a 12-year EngineWise® Comprehensive agreement. With this order, Air Niugini becomes a first-time GTF customer.


"GTF engines offer unmatched payload and range, enabling Air Niugini to open new routes internationally, while benefitting from industry-leading fuel efficiency, and we look forward to supporting the airline's fleet in the years ahead," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney.

"This is an exciting time for Air Niugini as we modernize our fleet," said Gary Seddon, chief executive officer of Air Niugini. "By upgrading next-generation aircraft with the most efficient engines, this will revolutionize travel for our passengers, ensuring significant reduction in fuel consumption and emissions, while expanding our route offerings and enhancing passenger experience."

Air Niugini is the national carrier of Papua New Guinea based in the capital Port Moresby. It operates an extensive domestic network as well as internationally to Australia, Asia and the Pacific. The airline's new fleet will deliver more capacity and greater reliability throughout its network.



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EVA orders GEnx engines to power Boeing 787 fleet expansion

GE Aerospace announced that following EVA Air's recent deal to purchase four Boeing 787-10 Dreamliner aircraft, the airline has placed an order for GEnx engines to power their new aircraft.

"We're thrilled EVA has selected our high-performance GEnx engine to power its fleet expansion," said Russell Stokes, President and CEO, of Commercial Engines and Services, GE Aerospace. "We look forward to ensuring GEnx engines continue providing outstanding economic and operational performance."

Since its introduction in 2011, the GEnx engine family has accumulated over 56 million flight hours. It stands as GE Aerospace's fastest-selling, high-thrust engine to date, with nearly 3,000 engines currently in service or on backlog, including spare units.

"EVA currently operates 15 GEnx-powered Boeing 787s, and they have demonstrated outstanding fuel burn, performance and reliability," said Clay Sun, President of EVA. "The additional engines will help us further expand our fleet to manage our growing route schedule." 


24 July, 2024

Avolon expands CFM portfolio with 150 LEAP-1A engines

       Avolon, a leading global aviation finance company, 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.

"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. 

SKY Airline selects RTX's Pratt & Whitney GTF engine to power up to 39 Airbus A320neo family aircraft

Pratt & Whitney, an RTX business, announced that Chilean-based SKY Airline has entered into a memorandum of understanding to select the GTF engine to power 10 firm Airbus A321XLR aircraft, with options for 29 Airbus A320neo and A321neo aircraft. With this selection, SKY Airline becomes a first-time Pratt & Whitney customer.

"This selection is a testament to SKY Airline's confidence in the GTF engine over the long term," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "These engines and aircraft will enable SKY to continue its route expansion while delivering industry-leading fuel efficiency and low CO2 emissions."

Pratt & Whitney plans to provide long-term maintenance services via an EngineWise™ Comprehensive service agreement.

American Airlines orders 180 CF34 engines to power new Embraer 175 fleet

GE Aerospace announced that American Airlines has finalized an order for 180 CF34-8E engines plus spares to power its fleet of 90 new Embraer 175 regional jets.

"The CF34 engine has a long track record of success with American Airlines and we're grateful the American team is putting its trust in us again," said Russell Stokes, President and CEO, Commercial Engines and Services, GE Aerospace. "This order, along with the CFM deals announced this spring with American, highlight our continued success at providing our customers industry-leading products and services."

More than 7,500 CF34 engines are in service with more than 900 Regional and Business Jet operators globally. The CF34-8E has accumulated more than 40 million flight hours and 29 million cycles since entering service on the Embraer E170/175 in 2004. Today, the CF34 engine line, which includes -3, -8, and -10 models, powers more than 2,500 regional commercial aircraft.




"The reliability and performance of the CF34 engine has been critical to our success for many years," said American's CFO Devon May. "We look forward to continuing our strong partnership with GE Aerospace as we invest in modernizing and strengthening our domestic and regional fleet."

Leasing giant Avolon orders 310 engines at Farnborough Air Show

160 engines ordered from Pratt & Whitney and 150 from CFM International
Engine orders valued at over US$5 billion at current list prices
Options to purchase 310 further engines


Avolon, a leading global aviation finance company, announces orders for 310 new engines to power 155 Airbus A320neo family aircraft in its order book. Avolon has ordered 160 GTF engines from Pratt & Whitney, and 150 LEAP-1A engines from CFM International.

The combined orders, announced today at the Farnborough Airshow, are valued at over US$5 billion at current list prices. The agreement also includes options to purchase a further 160 Pratt & Whitney engines and 150 CFM International engines. The orders represent Avolon’s largest ever engine commitment.

Both engine types help to lower carbon emissions by delivering at least 15% reduced fuel consumption compared to previous generation engine technology, and also reduced noise levels. Transitioning the global fleet to new technology aircraft is the biggest near-term action that can be taken to reduce aviation emissions, and Avolon is committed to a target of having over 75% of its fleet comprising the youngest, most fuel-efficient aircraft by the end of 2025. Beyond its 2025 target, the evolution of its fleet will be supported by deliveries of the A320 neo family aircraft out to 2032 that these engines will power.


Avolon currently has 115 A320neo family aircraft in its delivered and managed fleet, of which 39 are powered by Pratt & Whitney engines and 76 by CFM International engines. Following its order for 100 A321neo aircraft in December 2023, Avolon now has an orderbook of 279 A320neo family aircraft.

Andy Cronin, CEO Avolon, commented: “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.  Engine innovation has been one of the key tools to lower emissions and support the industry’s decarbonisation journey. We are delighted to be working with both Pratt & Whitney and CFM International, and excited about leveraging their engines to support the transition of our fleet to more fuel-efficient technology.”



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RTX's Pratt & Whitney delivers F100 engine in support of Poland's F-16 Fighting Falcon fleet

F100 engine
Pratt & Whitney, an RTX  business, has announced the delivery of an F100 engine to Poland. This delivery supports Poland's ongoing efforts to strengthen the readiness of its F-16 fleet, which is powered exclusively by Pratt & Whitney engines.

"This is the first of several engines we'll deliver to our Polish ally this year to ensure they have the propulsion power they need to address current and future threats," said Josh Goodman, senior director of the F100 Program at Pratt & Whitney. "The Pratt & Whitney F100 is the mainstay powerplant for 23 global air forces, and we are seeing increased demand for our latest generation F100 engine."

Currently produced in Middletown, Connecticut, the original F100 engines powering the Polish F-16 fleet were manufactured at Pratt & Whitney's Rzeszów facility. Today, nearly 20 years later, that facility produces F100 static structures and critical rotating parts in support of new F100 engines and worldwide sustainment.

The F100 boasts operationally proven technologies, such as advanced materials and thermal coatings, improved turbine cooling capabilities and prognostic health management. Across global F-16 and F-15 fleets, the F100 has flown more than 30 million engine flight hours, which is nearly three times as many hours as other fourth-generation fighter engines.



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Avolon selects RTX's Pratt & Whitney GTF engines to power up to 160 Airbus A320neo family aircraft

The agreement is Avolon's first direct GTF engine order


Pratt & Whitney, an RTX business, announced this week, that Avolon has selected GTF engines to power 80 Airbus A320neo family aircraft. The order means Avolon will have 158 GTF-powered aircraft in its delivered and committed fleet, with options for engines to power 80 additional aircraft.

This order represents one of Pratt & Whitney's largest transactions with a lessor for its GTF engines.

"We are building on our collaboration with Avolon, who remains at the forefront of the lessor community," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "GTF engines will provide Avolon's customers with unmatched fuel efficiency and the lowest carbon emissions available for single-aisle aircraft."

"These engines will power our large 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, chief executive officer at Avolon. "Engine innovation has been one of the key tools to lower emissions and support the industry's decarbonization journey. We value Pratt & Whitney's strong customer focus and are excited about leveraging their GTF engines to support the transition of our fleet to more fuel-efficient technology."

Avolon currently has a portfolio of 81 V2500-powered A320ceo family aircraft and 39 GTF-powered A320neo family aircraft in its delivered fleet.  Working with 142 airlines in 63 countries, Avolon has an owned, managed, and committed fleet of 1,029 aircraft, as of 30 June 2024. 

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units.



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23 July, 2024

GA Telesis Engine Services (GATES) to use sustainable aviation fuel for its engine testing in collaboration with DHL

GA Telesis Engine Services, a global leader in aircraft jet engine maintenance, repair, and overhaul (MRO), is proud to announce a milestone in its commitment to sustainability and environmental protection through the adoption of Sustainable Aviation Fuel (SAF) provided by Neste, the world's leading producer of SAF and renewable diesel. This strategic initiative to choose SAF underscores GATES's long-term dedication to reducing its carbon footprint and promoting more sustainable aviation practices.


In collaboration with DHL, the world's leading logistics company, and highlighting DHL's role as GATES launch customer for SAF, GATES will begin integrating Neste-produced SAF into its engine testing operations in Finland. This partnership marks a significant milestone, by reducing GATES' aircraft engine testing operations' greenhouse gas emissions by up to 80%* over the fuel's life cycle compared to using conventional jet fuel when Neste SAF is used unblended in the testing.

Key Highlights of the Initiative:


Commitment to Sustainability: As part of our unwavering commitment to environmental stewardship, GA Telesis Engine Services is dedicated to implementing sustainable practices across all aspects of our operations. The introduction of SAF is a critical step in reducing greenhouse gas emissions and promoting a more sustainable future for aviation.
Collaboration with DHL: DHL, renowned for its leadership in logistics and sustainability, will be GA Telesis Engine Services' first customer to benefit from our SAF integration. This collaboration is a testament to our shared vision of driving innovation and sustainability within the aviation industry.
Environmental Impact: The use of Neste-produced SAF unblended, at 100% concentration, has the potential to reduce greenhouse gas emissions by up to 80%* over the life cycle of the fuel compared to using conventional jet fuel. By purchasing Neste-produced SAF an amount that results in 25% of SAF in its fuel blend, the Company aims to significantly lower its environmental impact from aircraft engine testing and contribute to efforts to combat climate change.
Innovation and Leadership: GA Telesis Engine Services is committed to being at the forefront of innovation in the MRO industry. The introduction of SAF is part of its corporate parent's commitment to environmental protection and its broader strategy to embrace cutting-edge technologies and practices that enhance efficiency and sustainability.
"We are thrilled to announce this important step in our sustainability journey," said Gunnar Sigurfinnsson, President of GA Telesis Engine Services. "Our collaboration with DHL exemplifies our commitment to environmental responsibility and our dedication to pioneering sustainable solutions within the aviation industry. By integrating SAF into our operations, we are taking meaningful action to reduce our carbon footprint and protect the environment for future generations."

DHL's Executive Vice President of Aviation Express Global, Robert Hyslop, added, "DHL is already one of the world's largest users of Sustainable Aviation Fuel (SAF) and we are making significant progress towards achieving a 30% SAF share by 2030. Therefore we are proud to now partner with GA Telesis Engine Services in their groundbreaking initiative. Sustainability is an integral part of corporate strategy, and this collaboration aligns perfectly with our mission to deliver excellence sustainably. Together, we will make significant strides towards a more sustainable future."

GA Telesis Engine Services Oy is committed to continuous improvement and innovation in sustainability practices. GATES will continue to explore and implement solutions that support our environmental goals and drive positive change within the aviation industry.



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RTX completes preliminary design review of hybrid-electric Pratt & Whitney GTF engine demonstrator for Clean Aviation SWITCH project

Hybrid-electric propulsion technology has the potential to increase efficiency and reduce emissions for future aircraft applications


RTX announced the completion of the preliminary design review for the hybrid-electric propulsion demonstrator engine being developed as part of the SWITCH project, supported by the European Union's Clean Aviation Joint Undertaking (Clean Aviation). By combining two Collins Aerospace megawatt-class electric motor generators within a Pratt & Whitney GTF™ engine, the hybrid-electric propulsion system aims to enhance engine efficiency across all phases of flight, offering the potential to reduce fuel burn and emissions for future short- and medium-range aircraft.

"Completing the preliminary design review is a significant milestone toward demonstrating the potential of hybrid-electric technology to further enhance the performance and efficiency of next generation aircraft propulsion systems," said Juan de Bedout, chief technology officer, RTX. "We are leveraging our growing expertise in the field of hybrid-electric propulsion, including close collaboration between Pratt & Whitney, Collins Aerospace and all members of the SWITCH consortium."

22 July, 2024

British Airways Orders First GEnx Engines for New 787 Dreamliners

GE Aerospace announced today that International Airlines Group (IAG) has committed to purchasing GEnx engines to power six new 787 Dreamliners for British Airways – the first introduction of this engine into their fleet.

"British Airways was the launch customer for the highly successful GE90 engine. Bringing the GEnx into their 787 fleet represents another important milestone in our relationship," said Russell Stokes, President and CEO, of Commercial Engines and Services, GE Aerospace. 

The GEnx-1B powers two out of every three 787 aircraft in service. The engine also provides a 1.4 percent fuel burn savings for the typical 787 mission compared to its competition. Like all GE Aerospace engines, the GEnx can operate on approved Sustainable Aviation Fuel (SAF) blends today.



"The GEnx engine is performing well with millions of reliable flight hours under wing and proven fuel efficiency and economics," IAG said. "This selection by IAG and British Airways affirms the confidence we have in the GEnx engine and 787 aircraft combination." 

The GEnx engine family has more than 56 million flight hours since entry into service in 2011 and is the fastest-selling, high-thrust engine in GE Aerospace history with nearly 3,000 engines in service and on backlog, including spares. 

British Airways currently operates aircraft powered by GE Aerospace's GE90, CF34 and LEAP* engines.

*CFM is a 50/50 joint venture between GE Aerospace and Safran Aircraft Engines 



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EASA Certifies LEAP-powered Airbus A321XLR

EASA Certifies LEAP-powered Airbus A321XLR

CFM International is celebrating certification of the LEAP-powered Airbus A321XLR by the European Union Aviation Safety Agency (EASA). The A321XLR marks the fifth member of the A320neo family aircraft powered by LEAP engines. Supporting aircraft certification were updates to the engine’s type certificates, which EASA and the U.S. Federal Aviation Administration (FAA) granted on July 10.

“Certification of the CFM-powered A321XLR is an important milestone in providing our operators much greater route scheduling flexibility,” said Gaël Méheust, president and CEO of CFM International. “The engine was always designed with 35,000-lb. thrust capability for longer range, higher max takeoff weight aircraft. As a result, no engine modifications were required, giving operators the added benefit of 100 percent commonality with their existing A320neo family fleets.”

LEAP is the first engine certified on this application
Entry into service expected later this year
A321XLR is the longest range of the A320neo family



20 July, 2024

RTX's Pratt & Whitney and SR Technics announce first GTF engine induction

Swiss shop becomes the 17th active facility in the growing GTF MRO network


Pratt & Whitney, an RTX business, and SR Technics announced this week the induction of the first Pratt & Whitney GTF engine at the MRO service provider's Zurich-based facility. SR Technics will provide full disassembly, assembly and test capability for the PW1100G-JM engine for the Airbus A320neo aircraft family.

"Today, we extend our relationship with SR Technics, which began 35 years ago with maintenance on the PW4000 engine," said Marc Meredith, vice president of commercial aftermarket for GTF engines at Pratt & Whitney. "With their top-tier performance history, SR Technics will continue to deliver industry-leading services providing vital support for the expanding GTF fleet."

Pratt & Whitney is committed to expanding GTF MRO capacity with industry-leading providers such as SR Technics to support the growing aftermarket demand. In 2023 alone, Pratt & Whitney announced three GTF MRO facility expansions and six shop activations to support the growing GTF fleet. SR Technics, which joined the Pratt & Whitney GTF MRO network in 2022, marks the 17th active location and the seventh facility in Europe.

"With the first induction of the GTF engine, we are fulfilling our strategy to continuously expand our capabilities," said Owen McClave, chief executive officer at SR Technics. "In maintaining the GTF engine, we will not only be able to support more global customers, but we are also adding to the skillset of our talented employees in Zurich."

The GTF MRO network is part of Pratt & Whitney EngineWise solutions which provide operators with a full range of aftermarket services resulting in long-term, sustainable value. 





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SWISS


12 July, 2024

Phoenix Aviation Capital and AIP Capital form agreement to buy 10 CFM LEAP-1B engines

Phoenix Aviation Capital, a full-service aircraft lessor, and AIP Capital, a global aviation asset management and investment firm, today announced an agreement to acquire a portfolio of ten LEAP-1B engines from CFM International*.

The agreement demonstrates the strong relationship between the parties and CFM and will support the lessor's growth and mission of meeting the fleet and financing needs of its global airline customers. The state-of-the-art LEAP-1B engines are scheduled to be delivered between Q3 and Q4 2024.

Phoenix is managed exclusively by AIP and benefits from AIP's extensive experience in aviation and leadership. Mathew Adamo, Managing Partner at AIP, who serves on Phoenix's Board commented, "This order reflects a milestone in both AIP Capital's and Phoenix's growth strategy. We are excited to further expand our relationship with CFM and recognize the reliability, fuel efficiency, and performance of the LEAP engine family."

"We are proud to deepen our relationship with Phoenix Aviation Capital," said Gaël Méheust, president and CEO of CFM International. "This agreement bolsters our shared mission to reduce aviation's environmental impact and to lower operational costs for airlines through advanced technology and exceptional service and support."

The agreement bolsters Phoenix's portfolio which is comprised of new generation aircraft on long-term leases to a diversified customer base of airlines across the globe. Additionally, Phoenix has an orderbook of 30 737 MAX 8 aircraft with Boeing.

*CFM International is a 50/50 joint company between GE Aerospace and Safran Aircraft Engines.

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AIP Capital is a full-service aviation asset manager focused on opportunities in the aviation sector. AIP Capital believes its unique capital structure, relationships, and hands-on approach enable the firm to provide creative and bespoke solutions for airlines and other counterparties across market cycles.

Phoenix Aviation Capital is a full-service aircraft lessor focused on financing modern, in-demand aircraft and is dedicated to meeting the financing needs of its airline customers across the globe. 



08 May, 2024

AerCap confirmed new engine order

AerCap Holdings has confirmed the purchase of 150 new CFM LEAP spare engines valued at approximately $3 billion at list prices. The engines will be managed by SES. SES is a 50/50 joint-venture company between Safran and AerCap. The additional engines will deliver in line with the growing fleet of in-service Boeing 737MAX and Airbus A320neo Family aircraft.  

The Board has declared the initiation of the company's first quarterly dividend on its common stock of $0.25 per share. This initial quarterly dividend is to be payable on June 13, 2024, to shareholders of record at close of business on May 22, 2024. The Board of Directors has also authorized a new $500 million share repurchase program through December 31, 2024. 

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