STAMFORD, CT, April 15, 2010 ---GE Capital Aviation Services (GECAS) announced today that it has entered into another deal with Air Berlin for the sale leaseback of four Airbus A320-200 aircraft.
The four aircraft will be delivered from Air Berlin's existing order book with Airbus, and all will be equipped with CFM56 engines. The aircraft will be delivered in 2010.
Air Berlin, based out of Berlin, Germany, has a fleet of 131 aircraft. The airline was formed in 1978 and operates extensive service to 129 destinations within Germany, Europe and throughout the world from 21 German airports. It is the second largest airline in Germany. Ulf Hüttmeyer, CFO of Air Berlin PLC commented: "This deal is an example of a longstanding relationship with GECAS, a good partner of Air Berlin, and now our biggest lessor."
Commenting on the transaction, GECAS President and CEO, Norman C.T. Liu said: "This deal is another vote of confidence from GECAS in the Air Berlin business model. We are pleased to be able to help this leading European operator grow their operations and expand our relationship."
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.
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.
Dan Whitney
GE Capital Aviation Services
[email protected]
203-585-2268
203-300-8707