Following its acquisition of the GE Capital Aviation Services business (GECAS), AerCap has signed a 20-year joint venture agreement with Safran regarding Shannon Engine Support (SES).
SES, the world’s largest lessor of CFM56 and LEAP engines, is now a 50/50 joint company between AerCap and Safran. The company will continue to provide lease engine support to CFM and CFM operators.
“The SES business is a great fit within the AerCap portfolio, with similar expertise, common assets and a complementary customer base to our wholly owned engine leasing business,” said Aengus Kelly, CEO of AerCap. “This partnership extends our longstanding relationship with Safran, one of the world’s leading aviation companies. We look forward to working with the team at Safran to drive continued success at SES.”
“The SES joint venture with AerCap is a key asset of supporting our CFM operators, especially as the CFM56 and the LEAP engines continue to achieve strong success in the marketplace,” said Jean-Paul Alary, CEO of Safran Aircraft Engines. “Having AerCap, the largest aviation lessor, as a strategic partner significantly adds to our customer offering.”
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