CFM International has signed a $450m memorandum of understanding (MoU) to supply its CFM56-5B engines for a fleet of 22 Airbus A320 aircraft to CBC Financial Leasing.

The firm order includes three spare engines, with CFM56-5B performance improvement package (PIP) configuration and scheduled to entry into service by late 2011.

The engine improvements include hardware changes to the core, including new high-pressure turbine blade, as well as manufacturing changes to the fan and compressor blades and vanes to improve performance retention.

The new engines are developed by CFM International, a 50/50 joint venture between Snecma and GE, and are expected to provide a 0.5% improvement in fuel burn.

CBC Financial Leasing, a subsidiary of Industrial and Commercial Bank of China (ICBC), is scheduled to start taking deliveries in 2012.

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