StandardAero To Provide Icelandic Low Cost Carrier PLAY airlines with CFM LEAP 1A Performance Restoration Shop Visit (PRSV) Support

SCOTTSDALE, Ariz. - October 29, 2024 - StandardAero, a leading independent provider of engine maintenance, repair and overhaul (MRO) services, is proud to add Icelandic low-cost carrier PLAY airlines to the growing list of CFM International LEAP operators which it supports. StandardAero's LEAP maintenance, repair & overhaul (MRO) facility in San Antonio, TX, will provide PLAY with LEAP-1A Performance Restoration Shop Visit (PRSV) services, in support of the airline's fleet of A320neo family aircraft.

PLAY is the latest operator to entrust StandardAero with its CFM LEAP engine support, and will benefit from the OEM-authorized MRO services provided by the company, which last March became the first North American non-airline CFM Branded Service Agreement (CBSA) holder for the LEAP-1A and LEAP-1B. These services - which include MRO support, workscoping/forecasting, engine testing, program management, component repair development, lease engine support and module swaps - are offered in a seamless fashion under StandardAero's Total Engine Asset Management (TEAM™) services portfolio.

Commenting on the announcement for PLAY, Sindri Rúnar Úlfarsson, Manager Engineering - Technical Operations for PLAY said: "We are looking forward to working with StandardAero in support of our LEAP-1A maintenance needs. Operational performance and commercial flexibility were critical factors in our decision making process and we look forward to experiencing StandardAero's customer service first hand."

Willis Asset Management Limited (WAML) advised PLAY on the selection process. Commenting on the announcement, Rhys Fackrell, Senior Powerplant Consultant for WAML, said: "We are delighted to have supported PLAY with their LEAP-1A MRO selection process. As an independent aviation advisory, we are confident in StandardAero's ability to be a reliable and sustainable partner to PLAY, that offers a high quality service, customer focus and value. We have worked diligently to achieve a tailored commercial and technical agreement that is mutually beneficial, and aligns with their strategic objectives and best interests. We wish both parties every success."

Commenting on the announcement for StandardAero, Will Pitcher, Senior Vice President of Sales, Marketing and Customers for the company's Engine Services - Airlines & Fleets division, said: "StandardAero is truly honored to have been selected by PLAY airlines to provide it with LEAP-1A PRSV services. We know how important on-time performance is to PLAY and its passengers, and look forward to providing PLAY with reliable, high-quality services from our San Antonio-based LEAP facility for many years to come."

StandardAero recently achieved LEAP-1A correlation approval for the first test cell in its San Antonio test complex, adding to the existing LEAP-1B approval which was achieved earlier this year. These approvals pave the way for the introduction of LEAP-1A and LEAP-1B performance restoration shop visit (PRSV) capability, which adds to existing range of Continued Time Engine Maintenance (CTEM) services offered by StandardAero.

In addition to establishing MRO capability for the LEAP-1A and LEAP-1B at its San Antonio facility, StandardAero is also industrializing new engine component repairs for the LEAP family through its Component Repair Services (CRS) division's network of locations, and its Repair Development Center of Excellence. To date, StandardAero's CRS team has industrialized more than 230 component repairs for the LEAP-1A and LEAP-1B.

StandardAero also continues to grow its team of LEAP technicians through its in-house Aviation Mechanic Training Program, located at its San Antonio site's Training Academy.

CFM International, the 50/50 joint company between GE Aerospace and Safran Aircraft Engines founded in 1974, has redefined international cooperation and helped change the course of commercial aviation. Today, CFM is the world's leading supplier of commercial aircraft engines with a product line that sets the industry standard for efficiency, reliability, durability, and optimized cost of ownership for narrowbody aircraft. The company produces the LEAP family of engines, and supports both LEAP and CFM56 fleets for more than 600 operators worldwide.

Founded in 2019, Icelandic low-cost carrier PLAY airlines provides affordable transatlantic flights between North America and Europe. PLAY operates a fleet of 10 Airbus A320/321neo aircraft, with an average age of just over 2 years, connecting North America with Europe. PLAY serves key destinations in North America, including Baltimore, Boston, New York, and Washington, DC in the United States, as well as Toronto in Canada. In Europe, PLAY connects passengers to popular destinations such as London, Paris, Amsterdam, Berlin and Athens.

CFM International, the 50/50 joint company between GE Aerospace and Safran Aircraft Engines founded in 1974, has redefined international cooperation and helped change the course of commercial aviation. Today, CFM is the world's leading supplier of commercial aircraft engines with a product line that sets the industry standard for efficiency, reliability, durability, and optimized cost of ownership for narrowbody aircraft. The company produces the LEAP and CFM56 families of engines, and supports LEAP and CFM56 fleets for more than 600 operators worldwide.

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StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed- and rotary-wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is an NYSE listed company under the ticker symbol SARO.