AerCap and AFI KLM E&M sign deal for LEAP engine leasing venture

AerCap Holdings N.V. (NYSE: AER) and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) have signed an agreement to establish a 50/50 joint venture focused on leasing CFM LEAP spare engines, according to a press release issued July 20, 2026.

The joint venture is expected to initially acquire approximately 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 agreement is subject to approval by relevant regulatory authorities.

The venture follows a memorandum of understanding announced at the Paris Air Show in 2025. It will provide spare engine support to AFI KLM E&M customers operating LEAP-powered aircraft worldwide.

Tom Slattery, Executive Vice President of AerCap Engines, said the venture will "combine AerCap's engine leasing expertise with AFI KLM E&M's world-class maintenance, repair and overhaul capabilities to help meet the growing demand for LEAP spare engines."

Anne Brachet, Executive Vice President of Air France-KLM E&M, described the agreement as "a significant strategic step in addressing the evolving needs of the LEAP engine market."

AerCap is headquartered in Dublin and AFI KLM E&M supports nearly 3,000 aircraft operated by 200 airlines worldwide.

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