MTU Maintenance and Sumitomo Corp. have created two joint ventures to lease commercial aircraft engines. The first is MTU Maintenance Lease Services, of which MTU owns 80%; it will provide short- to medium-term engine leases for the independent maintenance provider’s customers.
The second, Sumisho Aero Engine Lease, of which Sumitomo owns 90% and MTU Aero Engines 10%, will focus on long-term engine leases that are not necessarily associated with MRO contracts with MTU.
As airlines own fewer spare engines, this is a logical service step for MTU to take on a larger scale. It has been offering leased engines for about a decade, but not on the scale it now can with Sumitomo, whose banking unit made a big step into the leasing business in January 2012, when it bought RBS Aviation Capital from the Royal Bank of Scotland for $7.3 billion.
MTU has about 40 engines in its leasing pool that are either owned or leased-in, but it could expand that to 50-60 engines in the next couple of years if there is sufficient demand, Aviation Week learned from Stefan Weingartner, president-Commercial Maintenance at MTU Aero Engines, during the MRO Europe Conference & Exhibition.
and engines are likely candidates for such an expansion. The GE90 engine still has a steep ramp-up in production, so there is a high demand for spares. In addition, more short-term intermediary shop visits are being required for certain GE90 engines due to the Sept. 13 service bulletin addressing high-pressure turbine stator shrouds that have accelerated corrosion and oxidation.