Workscope Delivered To AerCap - The World's Largest Owner Of Commercial Aircraft
StandardAero (NYSE:SARO), a leading independent pure-play provider of aerospace engine aftermarket services including engine maintenance, repair and overhaul (MRO) and engine component repair, recently completed delivery of its first CFM International LEAP engine to undergo a performance restoration shop visit (PRSV). Achieving this milestone, which followed pass-off testing of the engine at StandardAero's San Antonio, TX facility, demonstrates the maturity of the company's LEAP program in support of more than 20 customers around the world.
The engine referenced was a LEAP-1A owned by leading aviation leasing provider AerCap, powering one of the lessor's Airbus A320neo family aircraft. Aviation leasing companies such as AerCap today account for approximately half of the global commercial aircraft fleet. AerCap's fleet of approximately 1,700 owned and managed aircraft includes more than 350 LEAP-powered Airbus A320neo family and Boeing 737 MAX aircraft.
Commenting on the announcement for StandardAero, Rebecca Lane, Senior Vice President – Global Sales, said: "The delivery of our first LEAP PRSV workscope is a significant step for StandardAero and reinforces our continued commitment to meeting the needs of the global LEAP community. It is especially fitting that this milestone was achieved on an engine belonging to AerCap, the world's largest aviation leasing company. A sincere thanks to our colleagues at AerCap for the trust they have placed in our San Antonio-based LEAP team. AerCap joins the growing list of LEAP-1A and LEAP-1B customers from across North America, Latin America, Europe, Africa, the Middle East, South Asia and the Asia-Pacific region who rely on StandardAero for their LEAP MRO services, and we look forward to continuing to serve the needs of AerCap and its airline clients for many years to come."
StandardAero supports the LEAP-1A and LEAP-1B engine family from its 810,000 sq. ft. facility in San Antonio as a CFM LEAP Premier MRO provider, having signed the first non-airline CFM Branded Service Agreement (CBSA) in the Americas for the LEAP-1A and LEAP-1B in March 2023. StandardAero has been providing LEAP quick-turn shop visit (QTSV) services to operators since March 2024, and completed correlation of its first test cell for the LEAP in November 2024, paving the way for PRSV inductions.
In addition to establishing MRO capability for the LEAP-1A and LEAP-1B at its San Antonio facility, StandardAero is also industrializing new engine component repairs for the LEAP family through its Component Repair Services (CRS) network of locations, and its Repair Development Center of Excellence. To date, StandardAero's CRS team has industrialized more than 450 component repairs for the LEAP-1A and LEAP-1B. StandardAero also continues to grow its team of LEAP technicians through its in-house Aviation Mechanic Training Program, located at its San Antonio site's Training Academy.
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. The company serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Memphis, Miami, Singapore, London, Dubai, Shanghai, Amsterdam and other locations around the world.
CFM International, the 50/50 joint company between GE Aerospace and Safran Aircraft Engines founded in 1974, has redefined international cooperation and helped change the course of commercial aviation. Today, CFM is the world's leading supplier of commercial aircraft engines with a product line that sets the industry standard for efficiency, reliability, durability, and optimized cost of ownership for narrowbody aircraft. The company produces the LEAP and CFM56 families of engines, and supports LEAP and CFM56 fleets for more than 600 operators worldwide.
StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed- and rotary-wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is an NYSE listed company under the ticker symbol SARO. For more information about StandardAero, go to www.standardaero.com.
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