(Reuters) - AerCap Holdings NV ( AER ) has placed an order for 150 new CFM LEAP engines valued at about $3 billion, the world's largest aircraft lessor said on Wednesday.

The CFM engines are made by a joint venture between General Electric Co ( GE ) and France's Safran SA.

The engines will be managed by SES, a 50-50 joint-venture company between Safran and AerCap ( AER ).

AerCap's ( AER ) announcement comes ahead of its investor day presentation later on Wednesday.

The company's board has also authorized a new $500 million share repurchase program through Dec. 31.