Showing posts with label GECAS. Show all posts
Showing posts with label GECAS. Show all posts

22 September, 2021

PLAY to receive four Airbus neo aircraft from GECAS’ orderbook


GECAS has reached an agreement to provide three A320neo and one A321NX narrowbody aircraft from its orderbook to PLAY, the newly operating Icelandic low-cost airline.  The aircraft are scheduled to be delivered between autumn 2022 and spring 2023

Based in Reykjavík’s Keflavík International Airport and commencing operations in June of this year, PLAY’s current fleet of three A321neo connects passengers to ten locations across Europe. As Iceland offers a unique geographic location for transatlantic travel, these new technology narrowbodies offer greater capability to make connections within North America as well.

“We are delighted to add additional aircraft to the PLAY fleet. Our long-term objective is to make PLAY a leading brand in our market and we are very happy to have signed a partnership with GECAS, a leading international aircraft lessor. We appreciate the relationship with them through the early days of our airline,” Birgir Jónsson, PLAY’s CEO said. “We are consciously including environmental and ethical variables in our decision making. The addition of these fuel-efficient aircraft will help us meet our growth objectives as we look forward to the opportunities ahead.”

“GECAS has a successful track record of working with start-ups from their inception and are proud to support their success,” shared Alan Buckley, GECAS’ SVP & Region Manager. “GECAS is impressed with PLAY’s business plan and believe the airline is well positioned for growth. These neos will enable PLAY to build a broader network of routes to meet future travel demand and we are excited to join them on this journey.”

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15 September, 2021

SalamAir takes delivery of first of two A321NX from GECAS

GECAS announces the delivery of the first of two A321NX aircraft to SalamAir with the arrival of one, MSN 10483, into Muscat, Oman from Hamburg. As announced in late 2019, GECAS is providing the two aircraft from its own skyline.

SalamAir is the first operator of A320neo aircraft in Oman.  With a current fleet of six A320neos, the operator’s presence has grown to touch over 84 airports, in 35 countries. Based in Oman’s Muscat International Airport, SalamAir is now among the first to operate the A321neo in the Middle East.

“GECAS is pleased to deliver our first aircraft with SalamAir, one of the fastest growing low-cost carriers in the Middle East. These CFM LEAP-powered aircraft will assist in their expansion into locations in Asia and Europe,” shared Michael O’Mahony, GECAS’ SVP & Region Manager.

“SalamAir is dedicated to meeting Oman’s increasing demand for affordable travel options while providing a comfortable, flexible and reliable experience and a full range of services for our passengers,” Captain Mohamed Ahmed, CEO of SalamAir, said, adding “The longer range of the A321NX and additional 32 seats; enables us to continue offering travel to add new destinations and increase capacity on existing routes with more direct links between the Sultanate and friendly countries.”

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03 August, 2021

GECAS’ 737-800 Converted Freighter Fleet Climbing to over 40

• ATRAN add two additional 738BCF
• GECAS delivering an average of over one 737-800NG P2F per month
• GECAS has converted more than 110 aircraft and holds more than 100 orders and options

GECAS has contracted to add six 737-800BCFs to its in-service fleet, bringing the GECAS fleet of passenger-to-freighter (P2F) converted 737-800NG narrowbody freighters in operation to more than 40, an average of one aircraft added per month since the world’s first 737-800NG Converted Freighter was delivered in April 2018. Two of the aircraft will be added to ATRAN’s fleet and the remaining four with undisclosed operators.

A repeat customer, Volga-Dnepr Group’s ATRAN LLC recently took delivery of two 738BCF from GECAS and will add two more of the P2F narrowbodies to their operations in September. “In today’s highly competitive landscape marked by capacity constraints, it is important to keep pace with the demand and guarantee stable, high-quality services for our customers. These reliable converted freighters will support our ongoing fleet development strategy, enable smooth phase-out of older freighters and ramp up our delivery options,” said Vitaliy Andreev, General Director of ATRAN Airlines.

21 May, 2021

ATRAN Airlines to Lease Two Additional 737-800 Boeing Converted Freighters from GECAS


ATRAN Airlines has taken delivery of a 737-800 Boeing Converted freighter (BCF) from GE Capital Aviation Services (GECAS) and a second is slated to deliver later this month to the scheduled express cargo carrier, which is part of the Russia-based Volga-Dnepr Group.

These aircraft join the two 737-800BCF freighters ATRAN and GECAS announced in October of 2018 and which entered service in March and October of 2019, adding further capacity to ATRAN’s short- and mid-range routes linking Europe, China, Russia and the CIS.

“GECAS is delighted Volga-Dnepr have found the 737-800BCFs well suited to grow their operations and are thrilled to provide these additional freighters to ATRAN,” stated Richard Greener, GECAS’ SVP & Manager Cargo Aircraft Group.

Having delivered 34 of the converted 737-800BCF and with more than 60 on order, GECAS is the largest customer of the type for Boeing’s conversion program. Equipped with CFM56-7B engines, the narrow-body 737-800 freighter carries up to 23.5 tonnes of cargo.

12 May, 2021

AerCap shareholders approve take over of GE Capital Aviation Services

AerCap Holdings N.V. Shareholders Approve Acquisition of 

GE Capital Aviation Services

The Dublin based AerCap Holdings N.V. confirmed on Wednesday that the leasing giant's shareholders has given their approval for a previously announced acquisition of GE Capital Aviation Services GECAS, a General Electric business, at the Annual General Meeting of Shareholders held earlier in the day.   

Of course, the transaction remains subject to the receipt of necessary regulatory approvals and to the satisfaction of other customary closing conditions. Although, nobody is expecting things to go wrong with the take over which is expected to be completed in good order by the end of the year. 

The combined company will be an industry leader across all areas of aviation leasing, with over 2,000 owned and managed aircraft, over 900 owned and managed engines, over 300 owned helicopters and approximately 300 customers around the world.

26 April, 2021

Leasing giant GECAS arranges purchase and leaseback deal with IndiGo on 14 Airbus Neos jets

GE Capital Aviation Services (GECAS) along with the ventures it services have agreed a Purchase/Leaseback (PLB) arrangement for 14 LEAP-powered Airbus neo aircraft with IndiGo. The seven A320neo and seven A321neo are scheduled to deliver between the fourth quarter of 2021 and the middle of 2022.

Currently, India’s largest airline (by passengers carried and fleet size), GECAS has supported the fleet needs of IndiGo since it commenced operations in 2006.

“GECAS remains proud to support IndiGo’s exciting growth over the past 15 years, and adding these 14 neos is a true honor,” explains Aashish Sonawala, SVP and Asia-Pacific Regional Manager of GECAS.

“While putting our own capital to work, GECAS’ strategic platforms are providing additional capacity to meet the needs of our global customer relationships,” shares John Bordeaux, GECAS’ Chief Investment Officer, adding “We’re very pleased to lend our extensive expertise and network to identify the best opportunities for our investment partners.”

20 April, 2021

Big Twin Making Progress and Now Midway Through Development

GE Capital Aviation Services (GECAS) and Israel Aerospace Industries (IAI) have now passed the planned halfway phase of the Supplemental Type Certificate (STC) Development Program for the 777-300ERSF. This a key milestone for “the Big Twin,” the GECAS-IAI Co-investment for the passenger-to-freighter conversion program of the GE-90 powered 777-300ER, as it now moves beyond planning into the phase of physically modifying the aircraft.

Rich Greener, SVP and Manager of GECAS Cargo, explains “We’ve begun executing on the dedicated freighter design developed by the IAI and GECAS Cargo team towards manufacturing the kits, and the actual conversion phase under a licensing from Boeing.”

“The Big Twin is scheduled to be officially inducted into the IAI 777-300ER P2F Line 1 in Tel Aviv to commence the Prototype Conversion towards end of June 2021,” says Yosef Melamed, IAI EVP and General Manager of Aviation Group.“This is an exciting milestone for the Big Twin freighter program.”

10 March, 2021

AerCap to Acquire GE Capital Aviation Services

AerCap Holdings, the global leader in aircraft leasing, announced today that it has entered into a definitive agreement with General Electric under which AerCap will acquire 100% of GE Capital Aviation Services ("GECAS"), a GE business.  

The combined company will be an industry leader across all areas of aviation leasing, with over 2,000 owned and managed aircraft, over 900 owned and managed engines, over 300 owned helicopters and approximately 300 customers around the world.

Aengus Kelly, Chief Executive Officer of AerCap, said, "We are excited about this opportunity to bring together two leaders in aviation leasing. AerCap and GECAS both have industry-leading teams, attractive portfolios, diversified customer bases and order books of the most in-demand new technology assets. This combination will enhance our ability to provide innovative and attractive solutions for our customers and will strengthen our cash flows, earnings and profitability.

01 January, 2021

Guizhou Airlines receives first colourful Airbus A320neo assembled in Tianjin from GECAS orderbook

Guizhou Airlines has taken delivery of a new A320neo (MSN10037), marking the first neo from GECAS’ orderbook to enter service having been assembled at the Airbus Tianjin facility. Completing the commitment announced at the 2019 Paris Air Show, this aircraft is the fourth CFM LEAP-powered narrowbody on lease from GECAS to enter the Colorful Guizhou Airlines fleet.

While this delivery is the first from the lessor’s own orderbook and first to enter service with a Chinese operator, GECAS has an impressive history working with the Airbus Tianjin Facility. It also took delivery of the first-ever A320neo assembled at the Chinese Facility through a purchase-leaseback arrangement for aircraft operated by AirAsia.

30 October, 2020

Kalitta Air to be 'Launch Operator' of The Big Twin with Agreement to Lease Three 777-300ERSF from GECAS Cargo

 GECAS Cargo announced an agreement with Kalitta Air for three 777-300ERSF aircraft. With this agreement, Kalitta will be the first operator of the new passenger-to-freighter type, adding to their already sizable all-cargo fleet when these aircraft deliver in 2023.

20 October, 2020

PIMCO & GECAS to Create $3 Billion Aviation Leasing Investment Platform

Platform will enable PIMCO and GECAS to acquire new and young aircraft to lease
Provides financing to help airlines upgrade their fleets at a critical time for the aviation industry

PIMCO, one of the world’s premier fixed income investment managers, and GE Capital Aviation Services (GECAS), a world-leading lessor and business unit of GE announce that they have reached a preliminary agreement to develop an aviation leasing platform to support up to $3 billion in aircraft asset financings. The transaction is subject to customary closing conditions and receipt of required regulatory approvals.

This strategic investment platform will enable GECAS and PIMCO­-advised accounts to acquire new and young fuel-efficient aircraft to meet the needs of a diverse set of global airlines over many years.

The platform looks to provide much-needed financing for airlines which are looking to upgrade their fleets with young and new aircraft. The portfolio will initially focus on narrowbody aircraft while allowing flexibility to invest in attractive opportunities in the widebody market. PIMCO and GECAS will consider a range of investment criteria including an airline’s assets and credit quality and also geographic factors.

06 October, 2020

Milestone Aviation becomes first leasing customer for multi-mission H160

Milestone Aviation and Airbus Helicopters have agreed to include six H160s in Milestone’s orderbook. The helicopters will be destined for a range of missions including offshore transportation and emergency medical services, the first of which is set to deliver in 2023.

“Today’s announcement will see us enhance our orderbook to include the H160 which we believe will be an important player in the market in the years ahead. It is a versatile, multi-mission aircraft with the opportunity to be used in a number of scenarios, particularly serving EMS operations. It will be a valuable addition to our fleet and we’re already in discussion with operators to place the aircraft into service as soon as they are available,” said Pat Sheedy, CEO of Milestone.

16 August, 2020

Russia's S7 to launch cargo only flights from November with Boeing 737-800BCF's

The Russia airline S7 is all set to launch its new cargo operation this November with a pair of Boeing 737-800 converted cargo aircraft on lease from GE Capital Aviation Services (GECAS).

S7’s air freight program currently utilizes belly capacity on passenger planes and these narrowbody freighters will mark the inauguration of dedicated air freighters for the Russian-based operator.

GECAS, has been Boeing’s launch customer for the 737-800BCF - BCF stands for Boeing Converted Freighter and while extending the useful life of the passenger 737-800NG, the 737-800BCF carries more payload – up to 23.9 tonnes (52,800 lbs) – and has longer range – 2,000 nmi (3,750 km) than other standard-body freighters. The 737-800BCF freighter also offers operators newer technology, lower fuel consumption and better reliability than some other standard-body freighters. GRCAS expects the freighters to be delivered in November 2020 and January 2021 and the aircraft will fly medium and short-haul routes for S7.

13 August, 2020

GECAS Cargo orders more 737-800 freighters

GE Capital Aviation Services signed an agreement with Boeing converting 11 737-800 Boeing Converted Freighter (BCF) options to firm orders and adding nine additional options to the GECAS Cargo order book.

This agreement marks a repeat order by the commercial aircraft leasing and financing arm of General Electric [NYSE: GE] for the 737-800BCF, bringing their total orderbook for the type to 74 (60 firm and 14 options) since the narrowbody conversion program was announced in 2016. The 20 in this agreement are scheduled to complete conversions between 2022 and 2024.

“We are very pleased to expand our orderbook for the 737-800BCF with Boeing,” said Richard Greener, SVP and Manager, GECAS Cargo, adding “The versatility and reliability of these freighters is appealing to our air cargo customers, not to mention the greater efficiency, lower operational costs and better environmental credentials for the growing express and E commerce cargo market.”

19 November, 2019

Big Airbus order ...............20 A321XLR and 12 A330neo for GECAS

The commercial aircraft leasing and financing arm of General Electric - GE Capital Aviation Services (GECAS), has signed a firm order for 12 highly efficient wide-body Airbus A330neos and 20 long-range single-aisle A321XLRs.

The agreement for the A321XLR includes an order for 13 new planes and the upsizing of seven A321s in its existing backlog. The latest order takes the total number of A330 Family aircraft ordered by GECAS to 45 and all variants of the A320 Family to 588.

At the Dubai Airshow, Christian Scherer, Airbus Chief Commercial Officer said: “Having one of the world’s most respected and influential lessors invest in the A321XLR and the A330neo, speaks volumes on their global appeal, versatility and solid value as an asset. Airbus thanks GECAS on its wise investment and endorsement of the A330neo.”