airberlin and GE Capital Aviation Services agree to a Package Deal for 12 Aircraft
GE Capital Aviation Services and airberlin announced an agreement for the financing of 12 new aircraft - covering 5* Airbus A320, 3* Airbus A321 and 4* Boeing 737-800, all equipped with CFM engines. This sale-and-lease-back transaction is covering deliveries due in the first three quarters of 2012. The total deal size is approximately USD 1 bn in list prices.
"airberlin has been one of our leading European customers for the past 10 years. We feel that they are in a very strong position to grow successfully. We look forward to delivering on our commitment to finance these new aircraft deliveries in 2012." commented GECAS President and CEO, Norman C.T. Liu.
"We are pleased to announce this important transaction for airberlin with our biggest lessor GE Capital Aviation Services. This additional financing package with GE Capital Aviation Services underlines our continuing confidence in GE Capital Aviation Services as a strong and reliable partner and clearly indicates the excellent and trustful relationship which has been build up for many years. We highly value this transaction as it is significantly enhancing airberlin's financing portfolio by securing the aircraft financing needs until Q3 2012." commented Ulf Hќttmeyer, CFO Air Berlin PLC.
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 (NYSE: GE) is an advanced technology, services and finance company taking on the world?s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
About airberlinairberlin is Germany's second largest airline and has a workforce of 8,900 employees. In 2010 alone, airberlin received over 10 awards for service and quality. The fleet comprises of 169 aircraft with an average age of five years, making it one of the most modern fleets in Europe. The airline's state-of-the-art jets are highly fuel efficient, which contributes toward a long-term reduction in pollution emissions from aircraft. As one of the major European airlines, airberlin currently flies to 163 destinations in 39 countries. In 2010, airberlin transported 33.6 million passengers. airberlin has signed up for membership to the global airline alliance
oneworldЎ and is expected to become a full member at the start of 2012. airberlin has offered flights under codeshare agreements with American Airlines and Finnair since November 2010.
Date modified:
23.03.2011