Phoenix Aviation Capital and AIP Capital Announce Agreement to Acquire Ten CFM LEAP-1B Engines USA - English India - English

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DUBLIN and STAMFORD, Conn., July 12, 2024 ~ In a joint announcement today, Phoenix Aviation Capital and AIP Capital revealed their plans to acquire a portfolio of ten LEAP-1B engines from CFM International. The agreement, which highlights the strong relationship between the two companies and CFM, is expected to support Phoenix's growth and mission of meeting the fleet and financing needs of its global airline customers.

The state-of-the-art LEAP-1B engines are scheduled to be delivered between Q3 and Q4 2024. This acquisition marks a significant milestone in both AIP Capital's and Phoenix's growth strategies. As Mathew Adamo, Managing Partner at AIP and member of Phoenix's Board, stated, "We are excited to further expand our relationship with CFM and recognize the reliability, fuel efficiency, and performance of the LEAP engine family."

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CFM International President and CEO Gaël Méheust also expressed his enthusiasm for the agreement, stating that it aligns with their shared mission to reduce aviation's environmental impact and lower operational costs for airlines through advanced technology and exceptional service.

Phoenix Aviation Capital is managed exclusively by AIP Capital, which brings extensive experience in aviation asset management and investment. The lessor's portfolio consists of new generation aircraft on long-term leases to a diverse customer base of airlines around the world. In addition, Phoenix has an orderbook of 30 737 MAX 8 aircraft with Boeing.

CFM International is a joint company between GE Aerospace and Safran Aircraft Engines, with each holding a 50% stake. With this latest agreement, Phoenix Aviation Capital continues to solidify its position as a leading full-service aircraft lessor in the industry.
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