GE Capital Aviation Service signed a memorandum of understanding (MoU) yesterday at the Farnborough Airshow with CFM International to participate in the engine manufacturer’s new product offering for leasing companies, called Portable Maintenance for Lessors (PML). The final agreement should be complete by year-end, the companies said.
According to CFM, PML will be the first of its kind in the industry and enable leasing companies to control maintenance costs throughout the life of an aircraft, regardless of the lessee. Under the terms of the agreement, CFM would provide engine maintenance, repair and overhaul services for leased fleets. PML also wil be transferrable between lessees, which will enable them to more accurately predict maintenance costs.