DELHI, India --- Vistara, a joint venture of Tata Sons and Singapore Airlines, today finalized an engine order for 26 LEAP-1A engines to power 13 new Airbus A320neo in addition to the 37 leased aircraft from the A320neo family, ordered in July 2018 and the ten leased aircraft already in service.
Alongside this engine order, Vistara signed a long-term Rate Per Flight Hour (RPFH) agreement for the maintenance of the 120 LEAP-1A engines that power 60 such Airbus A320neo and A321neo aircraft in service or in order. The combination of the RPFH agreement and the engine order is valued at more than $2.4 billion U.S. at list price.
RPFH agreements are part of CFM's portfolio of flexible aftermarket support packages. Under the terms of the agreement, CFM Services guarantees maintenance costs for the Vistara's LEAP-1A engines on a dollar per engine flight hour basis.
The Delhi-based airline took delivery of the first LEAP-1A-powered Airbus A320neo in May 2017 and currently operates ten leased LEAP-1A-powered Airbus A320neo aircraft. As part of the airline's aggressive expansion plan, Vistara will take delivery by the end of this month of its first LEAP-1A-powered A320neo aircraft out of the latest order.
"The combination of the LEAP-1A engine and A320neo continue to deliver exceptional performance and helps Vistara maintain the highest standards of operational efficiency. We are happy to extend our partnership with CFM International and select the LEAP-1A engine for our new aircraft as well to support our growth plan," said Leslie Thng, CEO of Vistara.
"We are very honored by the trust Vistara has placed in CFM with these new contracts," said Gael Meheust, president and CEO of CFM International. "This trust is a great responsibility for CFM and we are committed to supporting Vistara's operations and to ensure the continued smooth introduction of new LEAP-1A engines into its fleet."
CFM International's advanced LEAP engine continues to set a new industry standard for fuel efficiency and asset utilization as the fleet continues the most rapid buildup in commercial aviation history, with the fleet logging more than five million engine flight hours through August, three years after commencing commercial service.
Vistara is a joint venture between Tata Sons Limited and Singapore Airlines Limited (SIA) with Tata Sons holding the majority stake of 51% in the company and SIA holding the remaining 49%. The airline now connects 32 destinations, operates over 200 flights a day served by a fleet of 23 Airbus A320 and 9 Boeing 737-800NG aircraft, and has flown more than 18 million customers since starting operations in 2015.
The LEAP-1A engine is a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. The LEAP engine family is the fastest-selling in aviation history with more than 18,600 orders and commitments, including spare engines, booked through September 2019.