AerCap and Air France Industries KLM Engineering & Maintenance to Establish CFM LEAP Engine Leasing Joint Venture
- CFM LEAP-1A → Airbus A320neo family
- CFM LEAP-1B → Boeing 737 MAX family
FARNBOROUGH, UK, July 20, 2026 — AerCap Holdings N.V. (“AerCap” or the “Company”) (NYSE: AER) and Air France Industries KLM Engineering & Maintenance (“AFI KLM E&M”) today announced the signing of an agreement to establish a 50/50 LEAP engine leasing joint venture to support the growing demand for LEAP spare engines. The joint venture follows the memorandum of understanding announced at the Paris Air Show in 2025, and is subject to the necessary approvals by the relevant authorities.
The joint venture will provide spare engine support to AFI KLM E&M customers operating LEAP-powered aircraft worldwide and is expected to initially acquire approximately 40 new CFM LEAP-1A and LEAP-1B spare engines. Subject to the necessary approvals by the relevant authorities, deliveries are scheduled through 2032, with the first four LEAP engines expected to be available to AFI KLM E&M customers by early 2027.
“Through this joint venture, we will combine AerCap’s engine leasing expertise with AFI KLM E&M’s world-class maintenance, repair and overhaul capabilities to help meet the growing demand for LEAP spare engines,” said Tom Slattery, Executive Vice President, AerCap Engines. “Together, we will provide reliable and flexible engine support solutions to AFI KLM E&M customers operating LEAP-powered aircraft worldwide, ensuring they have access to critical spare capacity as LEAP-powered fleets continue to expand.”
“The signing of this agreement to establish a joint venture with AerCap marks a significant strategic step in addressing the evolving needs of the LEAP engine market,” said Anne Brachet, Executive Vice President Air France-KLM E&M. “This joint venture will bring together complementary expertise to strengthen support for LEAP operators worldwide. Combining AerCap’s expertise in engine leasing together with AFI KLM E&M’s extensive MRO knowledge and capabilities is the basis for a long-term partnership that will support our customers in securing critical access to spare engine capacity as we see demand for LEAP-powered aircraft continue to grow.”
About AerCap
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is headquartered in Dublin with offices in Shannon, Memphis, Miami, Singapore, London, Dubai, Shanghai, Amsterdam and other locations around the world.
About AFI KLM E&M
Air France Industries KLM Engineering & Maintenance is a major multi-product MRO (Maintenance, Repair, Overhaul) provider. With a workforce of over 12,800, AFI KLM E&M offers comprehensive technical support for airlines, ranging from engineering and line maintenance to engine overhaul, aero structure, and fan thrust reverser support, as well as the management, repair, and supply of aircraft components, structured around a powerful logistics network. AFI KLM E&M supports almost 3,000 aircraft operated by 200 major international and domestic airlines.
Source: AerCap and AFI KLM E&M
