Business Irish

Tuesday 23 July 2019

Avolon places $2bn Paris engine order

Avolon’s Domhnal Slattery
Avolon’s Domhnal Slattery
John Mulligan

John Mulligan

Dublin-based aircraft lessor Avolon has agreed to buy 140 CFM Leap engines in an order valued at $2bn (€1.8bn) based on list prices.

The order, confirmed at the Paris Air Show, is the largest-ever order by Avolon for engines. It's also one of the largest-ever orders for CFM with a lessor for the Leap engines.

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Avolon, whose CEO is Domhnal Slattery, said that the engines would be used to power 70 Airbus A320neo family aircraft that are already in the lessor's order book.

Avolon has placed orders for a total of 240 Airbus A320neo family aircraft, 42 of which have already been delivered.

"Our commitment to the Leap engine reflects our confidence in CFM's track-record of designing and building world-class engines," said Mr Slattery.

CFM rival GE Aviation is on track to secure a record of more than $35bn (€31bn) in engine orders and service contracts at the Paris show this week.

Irish Independent

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