GECAS Places Orders for 32 Airbus Aircraft
Shannon, Ireland, 19 November 2019 – GECAS has entered into an agreement to purchase twenty A321XLR and twelve A330-900 aircraft from Airbus, with all 32 aircraft slated for delivery prior to the end of 2026.
“We’re delighted to be among the select lessors for the LEAP-powered A321XLR, which offers significant fuel efficiency and greater range,” explains Greg Conlon, GECAS President and CEO. “In addition to the commonality benefits, the XLR provides our opportunistic airline customers the ability to open long, thin routes to secondary cities.”
Conlon adds, “The optimized configuration of the A330-900 combined with the 7,200 nautical mile range makes it a compelling type in the medium-haul market. As older aircraft are ready to retire, this order allows us to meet our customers’ needs for capacity and range while providing extensive commonality with its predecessor aircraft.”
At the Dubai Airshow, Christian Scherer, Airbus Chief Commercial Officer said, “Having one of the world’s most respected and influential lessors invest in the A321XLR and A330neo speaks volumes on the aircrafts’ global appeal, versatility and their solid asset values.”
With more than 150 medium-haul operators facing a significant replacement need— forecasted by Airbus to impact over 2,700 wide- and narrowbodies in the coming 20 years and most of these by 2030 — each of these new types from Airbus are ideally suited to the medium-haul market. Prior to this order, the A330-900 aircraft, which does not compete with a GE-powered product, has garnered more than 270 orders for the type. As previously disclosed, GECAS’ fleet has been roughly 85% GE/CFM-powered for many years.
GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and financier. For over five decades, we have solved our customers’ challenges and helped their businesses to thrive. Whether your need is for narrow- or widebody aircraft, regional jets, turboprops, freighters, engines, helicopters, financing or materials, our name has become synonymous with trusted relationships, domain expertise and delivering on our promises.
GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, secured debt financing, asset sales and servicing, and airframe parts management. GECAS owns, services or has on order more than 1,850 (~1,500 fixed wing/ ~350 rotary wing), plus provides loans collateralized on an additional ~320 aircraft. GECAS serves ~250 customers in over 75 countries from a network of 20 offices around the world. www.gecas.com