JANUARY 15TH, 2013

Syphax Airlines places $145 million LEAP-1A / CFM56-5B engine orders

WEST CHESTER, Ohio – 15 January 2013 — Syphax Airlines has selected CFM International’s LEAP-1A and CFM56-5B engines to power three Airbus A320neo and three Airbus A319/A320ceo aircraft, respectively. The airline will take delivery of its first A320ceo in 2015, while the new A320neo aircraft are schedule to begin delivery in 2019. The firm engine orders are valued at $145 million U.S. at list price.

“These engines are the right choice for our growing airline,” said Mr. Mohamed Frikha, chairman of Syphax Airlines. “CFM56 engines have sterling reputation for reliability and low cost of ownership and we have had very good experience with them. We have every confidence that the LEAP product line will be just as good and are looking forward to introducing these into our fleet.

Syphax plans to introduce five additional leased A320ceos over the next few years.

“LEAP technology will provide double-digit improvements in fuel burn, noise, and carbon and NOx emissions and we believe these engines will prove to be real assets for Syphax as support its long-term growth,” said Jean-Paul Ebanga, president and CEO of CFM International.

“We are very pleased to continue to expand our great relationship with Syphax,” said Zair Abderrahim, Regional Sales, for CFM. “We are looking forward to a great future with this team and to proving that their trust in CFM is well placed. ”

LEAP engines incorporate revolutionary technologies never before seen in the single-aisle aircraft segment. This engine combines advanced aerodynamic design techniques, lighter, more durable materials, and leading-edge environmental technologies, making it a major breakthrough in engine technology. The 15 percent better engine fuel efficiency, at current fuel prices, translates to as much as $1.6 million in fuel cost savings alone for customers per airplane, per year. LEAP technology will also achieve double-digit improvements in CO2 emissions and noise levels, all while providing CFM56 levels of world-class reliability and low maintenance costs.

Launched in 2011, Syphax Airlines is the first private Tunisian “hybrid” airline. Syphax hopes to help expand the regional economy by providing essential access from its two main hubs, Sfax –Thyna Airport and Tunis-Carthage. The airline serves destinations in the Mediterranean basin such as France, Germany, Libya, and Turkey, in addition to domestic routes with two leased CFM56-5B-powered Airbus A319ceo aircraft.

LEAP is a product of CFM International, a 50/50 joint company between Snecma (Safran group) and GE. CFM is the world’s leading supplier of commercial aircraft engines, with more than 24,750 delivered to 500+ operators around the globe.