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Press Release

GE Capital Aviation Services Delivers First of Two New Leased Boeing 787-9s to Air Canada as Part of Purchase-and-Leaseback Transaction

May 30, 2016

SHANNON, Ireland - May 31, 2016 - GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced delivery of a new leased Boeing 787-9 aircraft powered by General Electric GEnx engines to Air Canada as part of a purchase-and-leaseback transaction with the airline.

A second new 787-9 aircraft is scheduled for delivery to Air Canada in June. Both aircraft are part of Air Canada’s order book with Boeing. Air Canada placed an order for 37 Boeing 787s and this delivery represents their 20th 787 to join the fleet.

“Air Canada is a longstanding GECAS customer and we are delighted to support its fleet renewal program with our first leased 787-9,” said Alec Burger, president and CEO of GECAS.

"GECAS has been a strong partner of Air Canada’s on many fleet financing opportunities over the years and this is the latest example of our successful partnership," said Michael Rousseau, Executive Vice President and Chief Financial Officer, Air Canada.

Air Canada is Canada's largest domestic and international airline serving more than 200 airports on six continents.  Canada's flag carrier is among the 20 largest airlines in the world and in 2015 served more than 41 million customers.  A founding member of Star Alliance, Air Canada (including Air Canada rouge) currently operates a fleet of some 210 aircraft.

About GE Capital Aviation Services (GECAS)

GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing.  With over 45 years of experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting.  GECAS owns or services a fleet of over 2,000 aircraft (~1,784 fixed wing/ ~246 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~380 aircraft. GECAS serves over 270 customers in 80 countries from a network of 26 offices. www.gecas.com

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

Dan Whitney
GE Capital Aviation Services
dan.whitney@ge.com
203-585-2268
203-300-8707


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