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Rio de Janeiro, Brazil, 2012/09/19 - GE Capital Aviation Services Limited (GECAS), announced that it has delivered a new leased ATR 72-600 aircraft to Azul Linhas Aéreas Brasileiras S/A as part of a purchase and leaseback transaction (NYSE: GE) - GECAS.com. NYSE: GE
GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, announced today that it has delivered a new leased ATR 72-600 aircraft to Azul Linhas Aéreas Brasileiras S/A as part of a purchase and leaseback transaction.
The aircraft is the first of five new ATR72-600s GECAS will lease to Azul to expand the airline’s fleet. These aircraft come from Azul’s existing orderbook with ATR. The remaining four deliveries are scheduled through April 2013.
Further, GECAS is leasing three aircraft from GECAS’ existing orderbook with ATR to Trip.
“Azul and Trip are very fast growing airlines in the region and need aircraft to keep pace with that growth. We are doing more than simply financing this transaction; we’re helping our customer build their fleet,” said Gilberto Peralta, GECAS senior vice president and region manager for Latin America and the Caribbean.
“GECAS has a historically important presence in the Brazilian market and the partnership with Azul has been of great value to our business,” said John Rodgerson, Azul’s CFO.
Azul operates a fleet of some 57 aircraft while Trip operates 58 aircraft. The two airlines announced plans to merge in May and await final regulatory approval. Combined, the two reach almost 100 destinations in Brazil.
About GE Capital Aviation Services (GECAS)
GECAS (GECAS.com), the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,710 owned and managed aircraft with approximately 235 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 24 cities around the world.
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