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Spare engine leasing specialist Engine Lease Finance Corporation (ELFC) has placed an order for 50 CFM International Leap spare engines from the manufacturer.
The order announced Aug. 7 comprises a mix of Leap-1A and -1B engines, which power Airbus A320neo and Boeing 737 MAX aircraft, respectively. The Irish engine lessor had more than 200 CFM56 and Leap engines on its books before the order announcement.
In total, the Shannon-based business has 400 spare engines across its portfolio, which also includes International Aero Engines V2500-A5, Pratt & Whitney PW1100, PW1500 and PW4000 variants, GE Aerospace GE90, GE Aerospace CF6 and CF34 and Rolls-Royce Trent 700 and XWB engines.
ELFC said the order is part of its strategy to transition to more fuel-efficient engine types, with the Leap variant 15% more efficient than its CFM56 predecessor, according to CFM International.
“This order represents the largest transaction ELFC has executed to date; it reflects our commitment to investing in the latest and most fuel-efficient technology engines and will enable ELFC to provide competitive spare engine support to customers worldwide,” ELFC President and CEO Richard Hough said.
As well as growing its new-generation spare engine portfolio, ELFC has also grown its aftermarket infrastructure. Two years ago, it completed the full acquisition of Chicago-based engine parts specialist INAV. INAV specializes in the buying and selling of commercial engine components in support of MROs, airlines and lessors.
Both parties had worked together since 2017, with INAV supporting ELFC with exchange engine options where it acquired a run-out engine for part-out in exchange for a mid-life or even full-life engine provided from ELFC’s portfolio.
Meanwhile, CFM International said the agreement will allow ELFC to provide operators with more options for fleet planning with higher asset availability. “The acquisition of these LEAP engines will significantly enhance ELFC’s capabilities in providing top-tier spare engine leasing solutions to its global customers,” CFM International President and CEO Gaël Méheust said.
As well as receiving some high-volume orders from operators and lessors this year, CFM International—a GE Aerospace-Safran Aircraft Engines joint venture—has further expanded its aftermarket network through both internal and external partner shops to support increased delivery volumes for the engine family in 2025. Aviation Week’s Fleet & MRO Forecast projects more than 23,000 Leap-1A and -1B engines will be delivered between 2025 and 2034.
At the beginning of the year, United Aerospace Maintenance Company, which operates in Larnaca, Cyprus, inducted its first Leap engine and will conduct quick-turn services on the engine type.
In March, XEOS—a Poland-based joint venture between GE Aerospace and Lufthansa Technik—formally brought its Leap maintenance and testing facility online.
In June, MTU Maintenance announced plans to expand its U.S. presence in Fort Worth and will include capability to establish full disassembly, assembly and testing of CFM Leap powerplants alongside the GE Aerospace-manufactured GEnx engine.
More recently, Abu Dhabi-based Sanad announced plans to have full Leap-1A and -1B overhaul capability by 2027.
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