GENERAL ELECTRIC COMPANY

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Delayed Nyse  -  04:00 2022-08-11 pm EDT
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French Connection: Air France-KLM Will Use Fuel-Efficient LEAP Engines To Power A New Fleet

07/06/2022 | 04:54pm EDT

Air France-KLM has finalized the purchase of 200 fuel-efficient CFM International LEAP 1-A engines to power its new fleet of Airbus A320neo and A321neo aircraft. Air France-KLM has been a long-standing CFM customer and selected the LEAP engine as part of a strategy to renew and expand its fleet.

"We are honored to further expand our partnership with one of the industry's largest groups and to be an integral part of Air France-KLM's sustainability strategy," said Gaël Méheust, president and CEO of CFM International. "This renewed trust is a valuable recognition of LEAP engine performances in terms of sustainability and fuel efficiency."

CFM is a 50-50 joint company between GE and Safran Aircraft Engines. CFM started developing the LEAP jet engine two decades ago. The engineers were able to lower fuel consumption by 15%, lower CO2 emissions and make it quieter compared with the engine's predecessor, the CFM56, by using breakthrough materials and technologies. Since its entry into service in 2016, the LEAP engine has saved more than 14 million tons of CO2 . It has logged more than 20 million engine flight hours to date in commercial service.

The engine uses parts made from advanced light- and heat-resistant material called ceramic matrix composites (CMCs) that can handle temperatures approaching 2,400 degrees Fahrenheit, where even the most advanced alloys grow soft. In general, jet engines can operate more efficiently at higher temperatures.

Air France-KLM airlines currently operate CFM56-7B and CFM56-5B engines that power the Boeing Next-Generation 737 and Airbus A320ceo fleets, respectively.

Top image credit: Air France-KLM

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GE - General Electric Company published this content on 06 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2022 20:53:07 UTC.


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Financials (USD)
Sales 2022 75 056 M - -
Net income 2022 489 M - -
Net Debt 2022 13 451 M - -
P/E ratio 2022 874x
Yield 2022 0,51%
Capitalization 84 588 M 84 588 M -
EV / Sales 2022 1,31x
EV / Sales 2023 1,17x
Nbr of Employees 168 000
Free-Float 74,1%
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H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
Francisco D'Souza Independent Director
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