Rolls-Royce has signed a new LessorCare+ contract with AviLease, as announced at Dubai Airshow today.
The contract is the second that Rolls-Royce has signed following the launch of the new support service last month.
"It’s testament to the quality of our offering and the strength of our partnerships that we are seeing AviLease come on board with LessorCare+ at Dubai,” said Rob Watson, president of civil aerospace at Rolls-Royce.
“There’s clearly demand among lessors for even greater insights into their asset holdings, and we’re in the best position to offer that through LessorCare+.”
As covered by Airline Economics, Avolon was the first customer and also the launch partner of LessorCare+.
LessorCare+ is a new subscription product that runs alongside its predecessor, LessorCare, and also complements Rolls-Royce’ original engine care product, TotalCare, which is aimed at airline customers.
Launched in 2018, the original LessorCare offers a suite of aftermarket solutions to support lessor customers across the lifecycle of their Rolls-Royce engine portfolios.
The model allows lessors to sign a single agreement that ensures access to support services for all Rolls-Royce engine types across their portfolio, covering MRO needs, transitions, asset management, and technical upgrades.
A key difference between LessorCare and LessorCare+ is that the former is provided to lessors free of charge, whereas the latter is sold as an annual subscription package that unlocks a new level of dedicated service.
LessorCare+ aims to provide lessors with an improved understanding of areas such as shop visit forecasts, hours and cycles flown, and cash reserves held against their engines.
These insights should allow lessors to more accurately predict end-of-lease return conditions and end-of-lease liabilities, as well as cash-holdings.
LessorCare+ also enables lessors to access “expedited” support services from Rolls-Royce, which is expected to be a key selling point.
Luke Mallows, senior vice president of marketing and leasing at Rolls-Royce, told Airline Economics that LessorCare+ is likely to be particularly attractive to larger lessors who are “transaction-heavy” or “transition-heavy”.
However, LessorCare+ is also expected to appeal to mid-sized and smaller lessors, due to in-house time and resource constraints, across teams that may have less experience and less technical expertise.
Rolls-Royce said it is currently in talks with “a number of larger and smaller lessors” on very near-term subscriptions for LessorCare+.