Flynas signs $6.3bn CFM LEAP-1A engine deal
Saudi Arabian low-cost carrier flynas has signed a Letter of Agreement with CFM International for the purchase of 160 LEAP-1A engines to power 80 Airbus A320neo aircraft, along with a long-term services agreement on a pay by-the-hour basis.
It is the second multi-billion-dollar LEAP deal in less than two weeks, following the $5.5bn order from Lion Group, finalised on 29th March.
The signing ceremony was attended by Ayed Al Jeaid – Chairman of flynas and Bander Al Mohanna – Chief Executive Officer of flynas and Philippe Couteaux, Executive Vice President of Sales and Marketing for Safran/CFM International.
Once finalized, the engine purchase commitment and the services agreement are valued at $6.3bn at list price. The aircraft order was announced in January 2017, and the first aircraft deliveries are scheduled for the end of this year.
Established in 2007, flynas has been a CFM customer since it began operations with leased CFM56-5B-powered A320ceos. The Saudi carrier currently operates a fleet of 30 aircraft.