Air Lease Corp. confirms airframe, engine orders

Air Lease Corp. confirms airframe, engine orders

Paris order for 12 737 MAX airplanes includes CFM LEAP-1B engine order valued at $348M.

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August 11, 2017
Edited by Eric Brothers
Industry/Regulations Jet/Turbine Engines

Boeing and Los Angeles, California-based Air Lease Corp. (ALC) have finalized an order for 12 737 MAXs first announced at the 2017 Paris Air Show. The agreement also includes two new orders for the 787-9 Dreamliner. ALC specializes in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized leasing and financing solutions.

"These additional orders reflect ALC's highly successful placements to date of our MAX and 787 order book and the need to fulfill the incremental demand we are experiencing for these aircraft across both existing and new customers for ALC," said John L. Plueger, ALC CEO and president.

The deal includes five 737 MAX 7s and seven 737 MAX 8s, bringing ALC's total MAX orders to 130. The leasing company has now ordered a total of 49 Dreamliners.

ALC selected GEnx-1B engines to power the two new Boeing 787 Dreamliner aircraft. Deliveries are scheduled to begin in 2019.

"ALC understands the value and flexibility these airplanes will bring to their customers all over the world," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "We're excited to grow ALC's order book and look forward to continuing our strong partnership."

Powered by LEAP engines
In a separate announcement, CFM International management stated that ALC has finalized its order for additional CFM LEAP-1B engine to power its12 new Boeing 737 MAX aircraft. The engine order is valued at $348 million U.S. at list price and deliveries are scheduled to begin in 2022.

“The LEAP-1B-powered Boeing 737 MAX aircraft is a key element in our portfolio,” Plueger said.

“The LEAP-1B is performing exceptionally well in airline services,” said Gaël Méheust, president and CEO of CFM International. “Reliability and operating economics are more important for airlines than ever. This continued vote of confidence from ALC signifies that they recognize the value that the LEAP-1B is delivering on both of those metrics.”

The LEAP engine family has 18 customers currently operating more than 85 aircraft on four continents. Overall, the fleet has logged more than 100,000 cycles and 200,000 hours with the highest utilization rate in this thrust class. The engine is delivering a 15% improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions.

The LEAP engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines.

Boeing finalizes BOC order for 10 MAX10s
Boeing and BOC Aviation Ltd. also finalized a deal for 10 737 MAX 10 airplanes announced at the 2017 Paris Air Show, valued at approximately $1.25 billion at list prices.

"We are pleased to be adding the Boeing 737 MAX10 aircraft to our future delivery pipeline, which offers airlines greater capacity combined with excellent operating costs and fuel efficiency," said Robert Martin, managing director and CEO of BOC Aviation.

BOC Aviation joined 15 other companies for the launch of newest version of the 737 MAX family during the Paris Air Show.

The 737 MAX 10 also uses CFM International LEAP-1B engines.