CATHAY PACIFIC PLACES $1.0 BILLION CFM LEAP-1A ENGINE ORDER
The Cathay Pacific Group and CFM International have finalized an order for the advanced LEAP-1A engine to power the Group’s 32 new Airbus A321neo aircraft. The engine order is valued at nearly $1 billion at list price, with delivery scheduled from 2020.
The aircraft will be operated by Cathay Dragon, the regional carrier of the Group, replacing and modernizing its existing singleaisle fleet of 15 A320s and eight A321s, while supporting the airline’s continued expansion in the Asia-Pacific region.
The Group has also signed a long-term Rate per Flight Hour (RPFH) maintenance agreement with CFM International. Under the terms of the agreement, CFM will guarantee maintenance costs on a dollar per engine flight hour basis.
The LEAP engine family has had an exceptional entry into commercial service with 18 customers currently operating more than 85 aircraft on four continents. Overall, the fleet has logged nearly 150,000 flight cycles and 300,000 flight hours while maintaining CFM’s industry-leading reliability and the highest utilization rate in this thrust class.