GE Press Release:

GE Capital Aviation Services Completes Purchase-and-Leaseback Deal with Aeromexico for GEnx Engine

May 30, 2014

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SHANNON, Ireland, May 30, 2014 -- GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, today announced that its engine leasing unit completed a purchase-and-leaseback transaction with Aerovías De Mexico S.A.de C.V., (Aeromexico), for a new GEnx engine. The engine will be used as a spare to support the airline's Boeing 787 fleet.

"We often help airlines generate cash and maintain operational flexibility with purchase-and-leaseback transactions, but this is the first one we have entered into with an airline for the GEnx," said Roger Welaratne, general manager of GECAS Engine Leasing. "It may be our first GEnx, but I predict it won't be our last."

The GEnx-1B engine entered service in 2012 and today about 900 engines are in use powering Boeing's 787 and 747-800 aircraft models. Compared to GE's CF6 engine, the GEnx engine offers up to 15 percent better fuel consumption and lower emissions, and its more efficient fan blades result in lower noise levels.

GECAS Engine Leasing provides a wide selection of spare engine solutions including models from GE, CFMI, Rolls-Royce, Pratt & Whitney and IAE. The unit provides a full range of operational and financial services, including short-term leases, engine exchanges, operating leases, purchase-and-leasebacks of engines, and structured, long-term financing options.

Grupo Aeromexico operates a fleet of more than 100 aircraft to more than 80 domestic and international destinations.

Tags

• Business Unit: Capital Aviation Services
• Topics: GE Capital, GE Corporate