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Shannon, Ireland, 2010/10/04 - GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of General Electric (NYSE: GE), announced it completed a purchase and leaseback transaction with leading with Latin American carrier Avianca-TACA. NYSE: GE
GE Capital Aviation Services Limited (GECAS), today announced it completed a purchase and leaseback transaction with leading with Latin American carrier Avianca-TACA involving three new Airbus A320 aircraft. Terms were not disclosed.
The first A320 was delivered to the airline in August. The two remaining aircraft are scheduled for delivery from the manufacturer in October and December of this year.
“We are pleased to expand our relationship with Avianca-TACA and our presence in the fast growing region of Latin America,” said Norman C.T. Liu, president and CEO of GECAS.
The Executive President of AVIANCA-TACA, Fabio Villegas Ramirez, noted: "We are pleased about this GECAS deal. With the addition of these three new aircraft it will be possible to extend the benefits that the Airbus fleet already offers to even more passengers on our medium range routes in the region. Both the Airline and passengers will benefit from the advantages that these advanced planes offer in terms of efficiency, service and entertainment. "
About GE Capital Aviation Services (GECAS)
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,800 owned and managed aircraft with approximately 245 airlines in over 75 countries. 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 25 cities around the world.
GE (ge.com) 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 Website. GE is Imagination at Work.
About AVIANCA and TACA
AVIANCA and TACA (avianca.com) have combined joint revenues of approximately USD 3 billion. Servicing more than 100 destinations around the world they now operate a fleet of 129 modern aircraft for short, medium and long range flights, directly employing nearly 12,000 people. Their frequent flyer program has more than 3 million members.