Flynas inks $6.3B deal with CFM International for LEAP-1A engines
Saudi low-cost carrier Flynas on April 10, 2018, signed an agreement with CFM International, worth $6.3 billion at list price, to acquire LEAP-1A engines for its 80 Airbus A320neo aircraft scheduled to be delivered in 2018.
The carrier’s agreement with CFM includes the acquiring of LEAP-1A engines to power the Flynas incoming fleet of 80 Airbus A320neo aircraft, scheduled to be delivered starting from 2018. The contract also comprises an associated long-term maintenance and service agreement for the new A320 fleet.
“It is highly gratifying to come into partnership with CFM in efforts to continue our strategic development,” said Ayed Al Jeaid, Chairman of Flynas, in a press release. “CFM’s proven success and performance over the years, comes as an essential component of our agreement with Airbus to purchase 80 confirmed order and 40 optional of A320-neo aircraft,” he added.
The airline’s current fleet consists of up to 30 Airbus A320ceos. In 2017, Flynas signed an agreement with Airbus to purchase 120 A320neos at a list value of $8.6 billion, which is considered the second largest deal in the region.
Bander Al Mohanna, CEO of Flynas, says the Saudi carrier has “operated exceptionally well” with the existing A320 fleet, powered by CFM56-5B engines. “Equipping our incoming A320neo fleet with LEAP-1A26 engines offers incomparable efficiency and a low cost structure for operating in environments with high temperatures in the region,” Al Mohanna explained.
Philippe Couteaux, Executive Vice President of Sales and Marketing for Safran/CFM International, also hailed the partnership with Flynas, saying that, “We look forward to bringing them all the benefits of the advanced LEAP engine to its fleet as part of the airline’s continuous growth in the Middle East.” The LEAP engine has become the preferred choice for next-generation single-aisle aircraft with more than 15,000 orders received.
Flynas says that partnering with CFM International, a joint company between GE and Safran Aircraft Engines, will enable the strengthening of the airline’s offerings both domestically and internationally. The Saudi Arabia, Riyadh-based carrier is considered to be the leading low cost airline in the region, which carried a record of over 6.4 million passengers in 2017.
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