CALC Signs Definitive Agreement for V2500 Engine to Power A320ceo Family Aircraft Order

China Aircraft Leasing Group Holdings Limited (CALC; Stock Code: 1848.HK) has signed a Definitive Agreement for the V2500 engine to power 8 firm plus 15 option A320ceo family aircraft of the aircraft that CALC have on order. This deal was originally announced as a Memorandum of Understanding at the 2015 Paris Air Show.

Deliveries occur in 2016 and 2017. The V2500 engine is offered through International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (NYSE:UTX), Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines.

CALC’s portfolio is currently made up of 65 current generation Airbus and Boeing aircraft with an average age of less than 4 years. The lessor has recently purchased four additional A320 aircraft from Airbus, on top of its large order of 100 A320 aircraft placed in December 2014, bringing its order book to 144 A320 series aircraft.

To date, nearly 7,000 V2500 engines have been delivered to nearly 190 customers in 80 countries.