AerCap and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) signed 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,” Tom Slattery, executive vice president at AerCap Engines, said. “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.”
Anne Brachet, Executive Vice President Air France-KLM E&M, added, “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. 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.”
