AerCap, AFI KLM E&M form LEAP engine venture

AerCap Holdings and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) have agreed to establish a 50:50 joint venture to lease CFM LEAP spare engines.

The venture, first outlined in a memorandum of understanding signed at the 2025 Paris Air Show, will support airlines operating LEAP-powered aircraft worldwide, subject to regulatory approvals.

The joint venture is expected to initially acquire about 40 new CFM LEAP-1A and LEAP-1B spare engines, with deliveries scheduled through 2032. The first four engines are expected to be available to AFI KLM E&M customers by early 2027.

The partners said the venture will combine AerCap’s engine leasing expertise with AFI KLM E&M’s maintenance, repair and overhaul capabilities to address growing demand for spare LEAP engines as global fleets powered by the engine family continue to expand.