SHANNON, IRELAND, DECEMBER 15, 2009 --- GE Capital Aviation Services Ltd. (GECAS), the Irish-based aircraft leasing business of General Electric Capital Corporation announced the sale of 15 commercial aircraft valued at approximately US$830MM leased to multiple airlines around the world to CDB Leasing Co., Ltd., a subsidiary of China Development Bank.
President Wang Chong of CDB Leasing Co., Ltd. said: "We are pleased to close this major aircraft transaction with GECAS. It will greatly expand our international presence."
GECAS President and CEO, Norman C.T. Liu, stated that "GECAS has been providing aircraft financing to airlines in China for over twenty years. We are now pleased to work with a leading Chinese financial institution, CDB Leasing, in closing this key aircraft portfolio transaction."
About GE Capital Aviation Services (GECAS)
GECAS, the US and Irish commercial aircraft financing and leasing business of GE, has a fleet of 1,530 owned aircraft with more than 245 airlines in some 75 countries, and it manages over 300 aircraft for others. 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 28 cities around the world.
About CDB Leasing Company , Ltd.
CDB Leasing Company (CLC) is a financial leasing company majority-owned by China Development Bank, with a registered capital of RMB 8 billion. Aircraft leasing is a core business of CLC. To date, CLC has completed delivery of 45 aircraft.
Dan Whitney
GE Capital Aviation Services
[email protected]
203-585-2268
203-300-8707