Turkey’s failed coup, terror strike cloud earnings prospects

Turkey’s Pegasus Airlines has taken delivery of the first Airbus A320neo powered by CFM International LEAP-1A engines.

The delivery, which had been delayed by several days because of the attempted coup in Turkey, was made during a private ceremony at Airbus facilities in Hamburg.

“We have an ambitious expansion strategy and the A320neo will be the backbone of this,” Pegasus CEO Mehmet Nane said in a statement.

The Pegasus A320neo’s entry into service will mark the service entry of the next-generation LEAP family of engines, variations of which also power the Boeing 737 MAX and the COMAC C919. CFM is a 50/50 joint venture between GE Aviation and Snecma.

“The opportunity to introduce a new engine family into commercial service happens once in a life time for many of us, so this is a very big deal,” CFM president and CEO Jean-Paul Ebanga said.

The A320neo powered by the Pratt & Whitney PW1100G geared turbofan (GTF) engine entered service with Lufthansa in January.

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