Hainan Airlines Holding Co., Ltd, a subsidiary of HNA Group, has signed a Memorandum of Understanding (MOU) with CFM International for the purchase of LEAP-1A engines to power 55 Airbus A320neo aircraft, along with a long-term support agreement for Hainan Airlines Holding and its affiliates. The MOU is valued at $4.2 billion U.S.

Minister Zhong Shan of China Ministry of Commerce and Minister Jean-Yves Le Drian of French Ministry of Europe and Foreign Affairs and Minister Bruno Le Maire of French Ministry for the Economy and Finance witnessed the signing between Bao Qifa, Executive Chairman and CEO of Hainan Airlines Holding and Philippe Petitcolin, Chief Executive Officer of CFM parent company Safran.

“The majority of our fleet is powered by CFM engines,” said Chen Feng, Chairman of the Board of HNA Group. “The products are performing great and we’ve been well supported by the CFM team. We believe that LEAP-1A engines will help us continue our profitability on our domestic and regional routes.”

“We are very pleased that Hainan has selected the LEAP-1A engine for its A320neo fleet,” said Philippe Petitcolin, CEO of Safran. “It is an honor to be part of this airlines continued growth and we offer our assurance that the entire team can look forward to the same high level of support they have come to expect from CFM as they introduce the LEAP-1A into service next year.”