NewswireToday - /newswire/ -
Shannon, Ireland, 2016/08/04 - GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, today announced a $280 million, 10.5 year term, Senior Debt agreement with Aerolíneas Argentinas - Aerolineas.com.ar / GECAS.com. NYSE: GE
The debt is secured by four A330-200s powered by GE’s CF6 engines and three B737-800s powered by CFM56 engines. The four A330s are scheduled to fund in 2016 and the three B737-800s in 2018. GECAS’s relationship and commitment to Aerolíneas Argentinas dates back to the 1990’s.
About Aerolíneas Argentinas
Founded in 1950, Aerolineas Argentinas (aerolineas.com.ar) is one of the leading airlines in South America. From its operational base at Aeroparque Jorge Newbery and at Ezeiza International Airport in Buenos Aires, Aerolíneas Argentinas flies to 24 international destinations in America and Europe. Along with Austral Lineas Aéreas, Aerolineas operates flights to 36 destinations within the country, reaching more cities in the Argentine territory than any other airline. Aerolíneas provides dynamic connections between Argentina and the region through its relaunched operations center at Jorge Newbery Airport (Aeroparque). The Aerolíneas Group is developing an ambitious fleet renewal program, which consists of 78 aircrafts, including 7 Airbus 340-300, 6 Airbus 330-200, 18 Boeing 737-700, 23 Boeing 737-800 and 24 Embraer 190. As of August 29, 2012, Aerolíneas is member of the SkyTeam global alliance, offering its passengers the possibility to fly to 1057 destinations worldwide.
About GE Capital Aviation Services (GECAS)
GE Capital Aviation Services (GECAS.com) is a world leader in aviation leasing and financing. With over 45 years of experience, GECAS offers a wide range of aircraft types including narrowbodies, widebodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of over 1,950 aircraft (~1,700 fixed wing/ ~250 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~400 aircraft. GECAS serves ~270 customers in over 75 countries from a network of 26 offices.
GE (ge.com) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.