GECAS to purchase 20 Embraer 190 Jets

Travel News Asia 16 June 2005

GE Commercial Aviation Services (GECAS), a unit of GE Commercial Finance, has signed a contract to purchase 20 Embraer 190 aircraft, with conversion rights to Embraer 195s. The commercial aircraft leasing company will take delivery of the aircraft beginning in mid-2006. The value of the order totals US$ 650 million, at list price.

GECAS was one of our first E-Jet customers and has had great success placing our aircraft in the Americas, Asia and Europe, said Maurcio Botelho, Embraer President and CEO. This order further strengthens the position of our E-Jet family in the commercial aviation market worldwide.

"The Embraer family of 70- to -110-seat jets is a popular choice among airlines around the world," said Henry Hubschman, President of GECAS. "This order enables GECAS to better serve our airline customers with flexible leasing solutions to meet their fleet management needs.

Including this order, GECAS has firm commitments for a total of 70 E-Jets.

GECAS has a fleet of more than 1,300 owned aircraft and offers a full range of aircraft fleet and financing solutions including operating leases, secured debt financing, engine leasing, spare parts financing and management, and pilot training.

See other recent news regarding: Travel News Asia, GECAS, Embraer, Paris Air Show

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