CFM CONCLUDES $1 BILLION U.S. AGREEMENT DURING FRENCH STATE VISIT TO CHINA
BEIJING, China — In conjunction with French President Emmanuel Macron's state visit to China, Colorful Guizhou Airlines today finalized a 12-year Rate-Per-Flight-Hour (RPFH) Agreement for the LEAP-1A engines that will power the airline's future fleet of up to 35 Airbus A320neo aircraft, along with five spare engines.
The agreement is valued at approximately $1.0 billion U.S. at list price.
RPFH agreements are part of CFM's portfolio of flexible aftermarket support offerings. Under the terms of the agreement, CFM Services guarantees maintenance costs for the airlines LEAP-1A engines on a dollar per engine flight hour basis.
"We are honored to further expand our relationship with Colorful Guizhou Airlines. Our relationship with the Chinese aviation industry goes back nearly 35 years and these new agreement further strengthen these very important ties."
Gaël Méheust, president and CEO of CFM International
About Colorful Guizhou Airlines
Established in June 2015, Colorful Guizhou Airlines is one of the fastest-growing airlines among the newly established airlines. Since its inception on December 31, 2015, it has developed routes covering 31 cities in the provinces, North China, East China, South China, Central China and West China, and initially built a "Guizhou-based, nationwide-oriented" route network. Colorful Guizhou has always practiced the concept of "service first" and offers high-quality services to passengers.
About CFM International
The LEAP engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. This engine has experienced the fastest order ramp up in commercial aviation history and CFM has received orders and commitments for a total of more than 18,750 LEAP engines, including spares, across all three models through September 2019. Web at www.cfmaeroengines.com www.cfmaeroengines.com or follow us on Twitter @CFM_engines