Aircraft lessor SMBC Aviation Capital ordered forty CFM International LEAP-1A engines to power 20 additional Airbus A320neo aircraft. The engine order is valued at $588 million at list price.

SMBC Aviation Capital is a long-term CFM customer and currently has a fleet of more than 350 aircraft powered by CFM56 and LEAP engines in service or on order. The company’s total portfolio is made up of 729 owned, managed and committed aircraft.

“Our customers are very satisfied with the LEAP-1A engines in their fleets,” said Peter Barrett, CEO of SMBC Aviation Capital. “This engine is delivering everything CFM promised and has become a valuable asset.”

“SMBC Aviation Capital has a large portfolio of CFM-powered aircraft today and we are obviously pleased by the continued confidence they show in our products,” said Gaël Méheust, president and CEO of CFM International. “We are proud of the positive impact our engines have had on the long-term profitability of their airline customers and look forward to growing this important relationship well into the future.”