DUBLIN (dpa-AFX) - Monday, AerCap Holdings N.V. (AER) announced an agreement with Air France Industries KLM Engineering & Maintenance to establish a 50/50 LEAP engine leasing joint venture to support the growing demand for LEAP spare engines.
Under this agreement, AerCap's engine leasing expertise will be integrated with Air France's world-class maintenance, repair and overhaul capabilities to provide spare engine support to the latter's customers operating LEAP-powered aircraft worldwide and is expected to initially acquire approximately 40 new CFM LEAP-1A and LEAP-1B spare engines.
The deliveries are scheduled through 2032, with the first four LEAP engines expected to be available to AFI KLM E&M customers by early 2027.
In the pre-market hours, AER is trading at $147.52, up 0.37 percent on the New York Stock Exchange.
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