AerCap and Air France Industries Collaborate on LEAP Venture
AerCap and Air France Industries Join Forces for LEAP Venture
AerCap Holdings N.V. (NYSE: AER) and Air France Industries KLM Engineering & Maintenance have announced their plans to embark on an exciting new journey. They have entered into exclusive negotiations to establish a joint venture focused on LEAP engine leasing. This partnership aims to provide exceptional support to AFI KLM E&M's LEAP Premier MRO customers worldwide.
Enhancing Fleet Operations
This collaboration builds on their existing efforts in leasing engines, where AerCap and AFI KLM E&M plan to co-own and manage a fleet of CFMI LEAP-1A and LEAP-1B engines. These engines are crucial for the seamless operation of Airbus A320neo and Boeing 737 MAX fleets, particularly during times of quick-turn or performance restoration shop visits within the AFI KLM E&M network.
Strengthening Strategic Ties
The formation of this joint venture is pending approval, but it signifies a significant strengthening of their strategic relationship. By leveraging their collective expertise in engine leasing, asset management, and MRO services, they aim to create a comprehensive support structure for customers. This partnership represents an invaluable resource for LEAP engine operators, combining the efficiency of a global airline-MRO and the proficiency of a top-tier aircraft lessor.
Leadership Insights
Tom Slattery, Executive Vice President of AerCap Engines, expressed enthusiasm about the collaboration, stating, "We have been very pleased with the high level of service and support provided by AFI KLM E&M over the years. This new venture not only underscores the strength of our strategic partnership but also illustrates the mutual trust and dedication between our two companies. We are eager to foster this successful collaboration through our new joint venture."
Anne Brachet, EVP of Air France Industries-KLM Engineering & Maintenance, also shared her perspectives, commenting, "This partnership represents a new chapter in our strategic relationship with AerCap. In a LEAP spare market where access to parts will be vital for operators, we can enhance our ability to provide flexibility and operational continuity by pooling our capabilities in engine leasing and MRO services. This new Joint Venture underscores our shared commitment to innovative, customer-focused solutions that evolve with the demands of the global aviation landscape."
About AerCap
AerCap has established itself as a leading global force in aviation leasing. With an impressive order book and a commitment to excellence, the company serves approximately 300 customers worldwide, providing a range of comprehensive fleet solutions. Headquartered in Dublin, AerCap maintains a significant presence in several strategic locations, including Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, and more.
About Air France Industries KLM Engineering & Maintenance
AFI KLM E&M is recognized as a key player in the multi-product Maintenance, Repair, and Overhaul (MRO) sector. With a dedicated team of over 12,800 professionals, it delivers extensive technical support to airlines. This support spans engineering, line maintenance, engine overhauls, and other services within a robust logistics framework. AFI KLM E&M is proud to support nearly 3,000 aircraft for approximately 200 major international and domestic airlines.
Frequently Asked Questions
What is the purpose of the AerCap and AFI KLM E&M joint venture?
The joint venture aims to establish a LEAP engine leasing platform to assist in MRO services for customers worldwide.
Why is this partnership significant for LEAP engine operators?
This collaboration enhances support, offering greater flexibility and operational continuity for LEAP engine operators.
Who leads AerCap's engine division?
Tom Slattery, as Executive Vice President, oversees AerCap's engine division.
What does AFI KLM E&M specialize in?
AFI KLM E&M specializes in multi-product MRO services, offering comprehensive technical support for airlines.
How many aircraft does AFI KLM E&M support?
AFI KLM E&M supports nearly 3,000 aircraft operated by around 200 airlines globally.
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