PTS Aviation, a StandardAero company, has signed a comprehensive 3-year General Terms and Aircraft Engine Lease Agreement (GTA/ELA) with a major North American Part 121 carrier, effective immediately. The initial ELA establishes the lease of one serviceable CFM56-5A1F engine for a 36-month term during a crucial period of projected air traffic recovery and growth.
This lease agreement represents PTS Aviation’s first publicly announced transaction since StandardAero signed a definitive agreement to purchase the company last month, a deal which marked StandardAero’s tenth acquisition since March 2015. Founded in 1995, PTS has more than 150 years of combined aviation management experience and significant expertise buying, leasing and selling engines, modules and used serviceable material (USM).
“The team here at PTS Aviation continues to offer creative engine leasing solutions tailored to specific airlines and A320/B737 operators worldwide, as we work to support the efficient and effective recovery in air travel,” said David Blackburn, senior vice president – Asset Leasing & Trading for PTS Aviation. “We look forward to offering our customers additional solutions by leveraging our USM capabilities in support of the comprehensive CFM56-7B maintenance repair and overhaul services offered by StandardAero.”
PTS Aviation, headquartered in Miramar, FL, is a worldwide supplier of used serviceable material for the CFM56-3, -5 and -7B. StandardAero is an OEM authorized independent MRO provider and GE Designated Fulfillment Center for the CFM56-7B from its 162,000 square foot facility in Winnipeg, MB, Canada.