GE Capital Aviation Services
|Norman Liu, President|
GE Capital Aviation Services (GECAS) is a unit of GE Capital, itself part of the large conglomerate General Electric. The president of GECAS is Norman Liu. GECAS is responsible for the leasing of aircraft and associated equipment to airlines. GECAS buys aircraft from manufacturers like Airbus and Boeing and then leases them to airlines, typically on three to five year leases, usually on dry lease contracts. It also buys aircraft from airlines and leases them back. The company has two global headquarters, located in Shannon, Ireland and Stamford, CT.
The primary competition for GECAS is ILFC, although other companies such as Air Lease Corporation, Aviation Capital Group, AerCap, BBAM and SMBC Aviation Capital also compete with it. GECAS is the largest aircraft lessor in the world by fleet size according to the 2005 Airfinance Journal Operating Lessor Survey.
GECAS has a fleet of over 1800 aircraft, used by 245 airlines. Nearly all aircraft owned by GECAS are powered by engines from either GE Aviation, another subsidiary of General Electric, or CFM International, a GE Aviation/Snecma joint venture.
In early 2007, GECAS placed an order with Boeing for fifteen 777 aircraft and twenty four 737-800 aircraft in a $5.34 billion deal. The aircraft are scheduled to be delivered between 2008 and 2010.
In November 2008, GECAS announced a signed contract for five COMAC ARJ21-700 regional jets. COMAC ARJ21-700 jets are produced by Shanghai-based Commercial Aircraft Corporation of China. The contract includes options for 20 additional aircraft. Deliveries of the aircraft to GECAS will begin in 2013.
- Solaseed Air Japan - 1 x Boeing 737-800
- GoAir India - 1 x Airbus A320-200
- Airphil Express Philippines - 3 x Airbus A320-200
- Kalitta Air United States - 2 x Boeing 747-400s BCF
- Thomas Cook United Kingdom - 6 x Airbus A321-200 (Deliveries From 2015)
- LAN Cargo Chile - 4 x Boeing 777-200LRF
- Aegean Airlines - 4 x Airbus A320-232
- AMC Airlines Egypt - 4 x Boeing 737-800
- Pakistan International Airlines Pakistan - 3 x Airbus A320-232
- "FARNBOROUGH: Germania firms A319 order". Retrieved 2010-07-21.
- "GE places $5bn Boeing plane order". BBC News. 2007-01-22. Retrieved 2007-01-22.
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- GE CAPITAL AVIATION SERVICES ANNOUNCES LETTER OF INTENT TO PURCHASE UP TO TEN C919 AIRCRAFT FROM COMAC
- PARIS: GECAS orders two 747-8Fs and eight 777-300ERs. Flightglobal.com (2011-06-21). Retrieved on 2013-08-16.