CIT Group LEAP-1B engine order valued at $760 million

LE BOURGET, France – CIT Group today announced an order for 30 Boeing 737 MAX 8 airplanes powered by CFM International’s advanced LEAP-1B engine. The engine order is valued at $760 million U.S. at list price.

To date, CFM has received orders for nearly 3,000 LEAP-1B engine at a value of more than $35 billion U.S. at list price.

Development of the LEAP-1B engine is progressing on schedule, with CFM finalizing detailed engine design drawings for release within the next few months. Parts manufacturing for the LEAP-1B engine will then accelerate through year end, leading to build-up of the first engine in early 2014. The LEAP-1B is on schedule for CFM flight testing in 2015 and engine certification in 2016. The 737 MAX is scheduled to enter service in 2017.

The LEAP-1B engine is the result of an exhaustive six-year collaboration effort with Boeing. The entire turbomachinery and installation are customized to meet the unique requirements of the 737 MAX. This program continues a 32-year relationship between CFM and Boeing; CFM engines have been the sole powerplant for all 737 aircraft sold since 1981.