Safran: CFM International - Loong Air agreement
(CercleFinance.com) - Today, the Safran group announced that CFM International (a joint venture between Safran and General Electric) has signed an agreement with Zhejiang Loong Airlines for the maintenance of its LEAP-1A and CFM56-5B engines.
The airline has signed a 12-year RPFH (Rate-Per-Flight-Hour) contract, valued at 500 million dollars. Under the terms of this agreement, CFM International will provide maintenance based on a rate of one dollar per flight hour.
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