STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 16, 2002--GE Capital Aviation Services (GECAS) today announced that it is providing lease financing to JetBlue Airways for seven new Airbus A320-300 aircraft that are scheduled for delivery to the airline beginning in October 2002 and ending in May 2003.
Terms of the financing transaction were not disclosed.
This is the second transaction between GECAS and JetBlue following a secured debt financing completed earlier in the year.
"We are pleased to assist a growing, successful airline such as JetBlue finance their fleet expansion," said Norman Liu, executive vice president, commercial operations for GECAS.
Since launching operations in February 2000, JetBlue Airways has served more than eight million passengers. JetBlue currently flies to a total of 20 cities and operates a fleet of 31 new Airbus A320 aircraft. The airline is scheduled to place into service another five new A320s by the end of 2002. All JetBlue aircraft are outfitted with roomy all-leather seats each equipped with free live satellite television, offering up to 24 channels of DIRECTV(R) programming at every seat.
GECAS is a leading provider of fleet, financing and productivity solutions to the global aviation industry. With three decades of expertise and long-standing customer relationships with some 200 airlines in more than 60 countries, GECAS has a fleet of more than 1,000 owned aircraft and manages nearly 300 for others.
GECAS offers a full range of aircraft fleet and financing solutions, including operating leases, finance leases and sale/lease back arrangements; secured loans and debt financing through its PK AirFinance unit; engine leasing through GE Engine Leasing; pilot training through GE Capital Aviation Training and productivity services through its affiliate network. GECAS is headquartered in Stamford, Conn., and has regional offices in New York, Chicago, Miami, Hong Kong, Singapore, Beijing, Tokyo, Vienna, Luxembourg and Shannon, Ireland. www.gecas.com
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CONTACT: GE Capital Aviation Services, Stamford
Eric Jones
203-357-6978