AerCap Holdings N.V. and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) have announced a new agreement to create a 50/50 joint venture focused on leasing CFM LEAP spare engines. The partnership has been established to help meet increasing global demand for spare engines used by operators of LEAP-powered aircraft and builds on the memorandum of understanding signed by the two companies at the Paris Air Show in 2025. The agreement remains subject to the relevant regulatory approvals.
The new venture is expected to purchase around 40 new CFM LEAP-1A and LEAP-1B spare engines, which will be made available to AFI KLM E&M’s global customer base. Deliveries are scheduled to take place through to 2032, subject to approvals, with the first four engines anticipated to enter service with customers in early 2027.
“Through this joint venture, we will combine AerCap’s engine leasing expertise with AFI KLM E&M’s world-class maintenance, repair and overhaul capabilities to help meet the growing demand for LEAP spare engines. Together, we will provide reliable and flexible engine support solutions to AFI KLM E&M customers operating LEAP-powered aircraft worldwide, ensuring they have access to critical spare capacity as LEAP-powered fleets continue to expand.”
– Tom Slattery, Executive Vice President of AerCap Engines.
The collaboration is designed to strengthen spare engine availability for airlines operating LEAP-powered fleets, combining AerCap’s experience in engine leasing with AFI KLM E&M’s maintenance, repair and overhaul capabilities to support customers around the world as demand for these aircraft continues to increase.
“The signing of this agreement to establish a joint venture with AerCap marks a significant strategic step in addressing the evolving needs of the LEAP engine market. This joint venture will bring together complementary expertise to strengthen support for LEAP operators worldwide. Combining AerCap’s expertise in engine leasing together with AFI KLM E&M’s extensive MRO knowledge and capabilities is the basis for a long-term partnership that will support our customers in securing critical access to spare engine capacity as we see demand for LEAP-powered aircraft continue to grow.”
– Anne Brachet, Executive Vice President of Air France-KLM E&M.
AerCap is one of the world’s leading aviation leasing companies, providing fleet solutions to approximately 300 customers globally and operating from its headquarters in Dublin alongside offices across Europe, North America, Asia and the Middle East. AFI KLM E&M is a leading maintenance, repair and overhaul provider employing more than 12,800 people and delivering engineering, component support and engine services to almost 3,000 aircraft operated by around 200 airlines worldwide.
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