LE BOURGET -- ALAFCO Aviation Lease and Finance Company (KSCC) has announced it will purchase CFM56-5B engines to power seven Airbus A320 aircraft. The engine order is valued at approximately $95 million over the life of the product.
CFM56-5B engines are produced by CFM International, a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company and the world's leading supplier of commercial aircraft engines. The CFM56-5B is the engine of choice for the Airbus A320 family of aircraft and has been selected to power more than 55 percent of all A318/A319/A320/A321 aircraft currently in service or on order.
Based in Kuwait, ALAFCO is a growing aviation lease and finance company with customers in Asia, the Middle East, and Europe.
The CFM56-5B is the engine of choice for the Airbus A320 family and is popular with major airlines, low-cost carriers, and leasing companies alike. More than 2,600 CFM56-5B engines have been delivered to date, and the fleet is growing at a rate of about 35 engines per month. Primary factors behind the engine's broad-based acceptance include its industry's best reliability, durability, low cost of ownership, and world-class customer and product support. The CFM56-5B is the only engine that can power every model of the A320 family, from the small A318 up to the A321, with the same bill of materials, giving airlines a significant commonality advantage.