GECAS Arranges Sale-Leaseback Plus PDP Financing for two Boeing 737 MAX 8s to Okay Airways
Beijing, China - July 16, 2018 - Following the delivery last week of Okay Airways’ first leased Boeing 737 MAX 8, GECAS signed another contract with Okay Airways for the purchase-and-leaseback with pre-delivery payment financing of two Boeing 737 MAX 8s. The aircraft, fitted with CFM LEAP-1B engines, are scheduled for delivery in July and September 2019.
Established in 2004, Okay Airways is the first privately-owned aviation company in operation in China. Based in Tianjin Binhai International Airport, the carrier currently operates an all-Boeing fleet. The new 737 MAX 8s will provide Okay with the latest technology and fuel efficiency to enhance their fleet, which services over 150 domestic and international routes and connects to approximately 70 cities.
“Okay has been a GECAS customer since 2010, and we look forward to strengthening our relationship with them with the placement of these two new MAX 8s,” said Michelle Wu, Senior Vice President Marketing of GECAS’ Greater China Region.
“These aircraft will enhance Okay’s growing fleet with the latest technology, range and flexibility as we seek to connect passengers to more cities in and beyond China,” said Mr. Zonglin Li, President of Okay Airways.
GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. With 50 years of aviation finance experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, and airframe parts management. GECAS owns or services a fleet of nearly 2,000 aircraft (1,685 fixed wing/ 310 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~330 aircraft. GECAS serves ~250 customers in over 75 countries from a network of 25 offices. gecas.com
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About Okay Airways
Okay Airways Co., Ltd. is the first privately-owned aviation company in operation in China and is headquartered in Beijing. At present, Okay Airways has established Tianjin, Changsha, Xi'an, Nanning domestic operation bases and South Korea's Jeju overseas base, with 29 aircraft (including 27 Boeing 737NG series passenger aircraft ,1 Boeing 737 MAX 8, and 1 Boeing 737 freighter). A total of more than 150 domestic and international routes have been opened, and the destinations are spread over more than 70 major domestic cities and neighboring countries and regions, with more than 6 million passengers transported annually. okair.net