Safran : LOONG AIR and CFM sign $500 million support agreement for Leap-1A & CFM56-5B engines
July 17, 2018 at 12:12 pm EDT
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Under the terms of the 12-year agreement, CFM will guarantee the maintenance costs of the airlines leased fleet of 24 LEAP-1A and 11 CFM56-5B engines on a dollar per engine flight hour basis.
'We are very pleased to further expand our relationship with CFM,' said Liu Qihong, chairman of Zhejiang Loong Airlines. 'As the LEAP-1A launch customer in China, we chose the LEAP engine because of its utilization and fuel efficiency, as well as its environmental technologies. All of which will not only keep our costs in check but also help protect the environment with fewer emissions. We look forward to introducing it into our fleet.
'Our goal is to contribute to the economic and social development of Zhejiang province by providing efficient air transportation. We are learning about the reliability and world-class support CFM provides through our CFM56-5B fleet, and we are looking forward to introducing the LEAP-1A engine in 2018,' Liu concluded.
'We are thrilled to continue our association with Loong Air,' said Gaël Méheust, president & CEO of CFM International. 'We have been impressed with what this airline has accomplished in a very short amount of time and are excited to work with them as they continue to grow. We believe that the LEAP engine will prove to be a great asset to their fleet and this agreement will help ensure the long-term value of that asset.'
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Safran SA published this content on 17 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 July 2018 16:11:05 UTC
Safran is a high technology international group, a leading equipment provider in the Aerospace and Defense markets. The group specializes in the design, manufacturing, and marketing of equipment and systems of high technology mechanical and electronic equipment. Net sales break down by product family as follows:
- aeronautic and space propulsion systems (51.2%): helicopter motors (No. 1 worldwide), civil and military airplanes motors, systems for space lancers and missiles, turboreactors for drone targets, etc.;
- aircraft equipment, defense systems and aerosystems (38%): airplane engine pods, landing gear, braking systems, electric wiring systems, etc. Safran also offers on board aircraft systems and equipment (primarily evacuation slides, emergency arresting systems, protective parachutes and oxygen systems, electrical power management systems, control systems, water and waste management systems and connectivity systems) and defense and security systems (helicopter flight controls, fingerprint-based biometric identification systems (No. 1 worldwide), inertial systems, optronic systems, tactical drone systems, etc.);
- aircraft interiors (10.7%): cabin interiors and seats;
- other (0.1%).
Net sales are distributed geographically as follows: France (19.4%), Europe (24%), the Americas (34.8%), Asia and Oceania (13.2%), Africa and the Middle East (8.6%).