Aircraft leasing company Avolon has announced an order for 140 new LEAP-1A engines from CFM International.

The order is valued at $2 billion at list prices and the new engines will be used to power the 70 Airbus A320neo family aircraft in Avolon's order book. 

The deal was announced at Paris airshow today. 

Avolon has been a customer of CFM International since it was established in 2010 and today owns a fleet of over 290 CFM-powered aircraft.

Avolon said the latest order represents its largest ever engine order to date. It is also one of CFM's biggest ever engine transactions with a lessor for the LEAP engine.

Dómhnal Slattery, CEO Avolon, said the company's commitment to the LEAP engine reflects its confidence in CFM's track-record of designing and building world-class engines. 

"Our partnership supports Avolon's strategy to provide our airline customers with the most modern, fuel-efficient aircraft available," Mr Slattery said. 

CFM International is a 50/50 joint company between GE and Safran Aircraft Engines.