The initial agreement establishes the lease-to-purchase of one serviceable OEM-maintained, high-cycle remaining CFM56-7B26 engine for a 60-month term.
PTS Aviation, LLC, a StandardAero company, has announced the signing of a comprehensive 5-year aircraft engine lease agreement (ELA) with a major aircraft and engine lessor based in the United Arab Emirates. The initial ELA establishes the lease-to-purchase of one serviceable OEM-maintained, high-cycle remaining CFM56-7B26 engine for a 60-month term. The agreement will prove to be very crucial during a crucial period of projected air traffic recovery and growth in Europe. The long-term agreement was effective immediately after the signing.
StandardAero signed a definitive agreement to purchase PTS Aviation, LLC in December 2021. The latest signed lease agreement represents PTS Aviation’s fourth publicly announced transaction since the purchase announcement. Founded in 1995, PTS has over 150 years of combined aviation management experience and significant expertise in buying, leasing and selling engines, modules and high-quality used serviceable material (USM). The purchase of PTS Aviation was a deal that marked StandardAero’s tenth acquisition since March 2015.
Commentating on the transaction, David Blackburn, Senior Vice President of Asset Leasing & Trading for PTS Aviation, LLC said: “The amazing team here at PTS Aviation provided a creative and unique engine leasing solution tailored to a UAE-based lessor and an end-user operator which will be offering cost-effective Boeing 737NG ACMI services to support various airlines throughout Europe. PTS Aviation will continue to work tirelessly and diligently to effectively support the on-going recovery in air travel worldwide. We look forward to offering our customers additional cost-effective solutions by leveraging our engine leasing and USM capabilities in support of the comprehensive and expanding CFM56-7B maintenance repair and overhaul services offered by StandardAero.”
StandardAero is an OEM authorized independent MRO provider and GE Designated Fulfillment Center for the CFM56-7B engine. StandardAero operates from its 162,000-square-foot facility in Winnipeg, MB, Canada. StandardAero announced in April 2022 that the company is now further expanding its CFM56-7B capabilities, with a hospital shop capability to be established in Dallas-Fort Worth (DFW) by the end of 2022. The company is also planning to establish an engine test capability in DFW in the first half of 2023. PTS Aviation, LLC, has its headquarters in Miramar, FL, U.S. and is a worldwide supplier of high-quality used serviceable material for the CFM56-3B/C, -5A/B, and-7B powerplant systems.
