GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, signed a purchase and leaseback transaction with Emirates Airline for three new Boeing 777-300ER aircraft and seven spare engines.
The first aircraft from the airline’s existing order book with Boeing was delivered on May 30. The other aircraft are scheduled for delivery later in 2012. The leaseback of seven spare engines — four GE90s and three GP7200s – was successfully completed in June.
Emirates airline (www.emirates.com) is one of the fastest growing airlines in the world, and has received more than 500 international awards for excellence. Emirates operates the world’s largest fleet of Boeing 777 aircraft and now flies to 124 destinations in 73 countries.
About GE Capital Aviation Services (GECAS)
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,710 owned and managed aircraft with approximately 235 airlines in over 75 countries. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity solutions including spare engine leasing, spare parts financing and management. GECAS, a unit of GE Capital, has offices in 24 cities around the world. (www.GECAS.com)