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GE Capital Aviation Services Signs Deal with Air Berlin for Sale Leaseback of Three Airbus A320s

Dépèche transmise le 25 août 2009 par Business Wire

GE Capital Aviation Services Signs Deal with Air Berlin for Sale Leaseback of Three Airbus A320s

STAMFORD, Conn.--(BUSINESS WIRE)--GE Capital Aviation Services (GECAS) announced today that it has entered into a deal with Air Berlin for the sale leaseback of three Airbus A320-200 aircraft. The three 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 early 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. “This transaction underscores the long, trusting relationship between our company and GECAS. This was a major step toward helping us secure financing for our 2010’s deliveries,” commented Ulf Hüttmeyer, CFO of Air Berlin PLC.

Commenting on the transaction, GECAS President and CEO, Norman C.T. Liu said: “We are pleased to be able to help this leading European operator grow their operations and expand our relationship.”

Air Berlin and GECAS have been doing business together since 2003.

About GE Capital Aviation Services (GECAS)

GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of 1,530 owned aircraft with approximately 245 airlines in over 75 countries, and it manages over 325 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 23 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.