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GE Capital Aviation Services Announces Letter of Intent to Purchase Up to Ten C919 Aircraft from COMAC - GE Capital Aviation Services Limited (GECAS) announced at the Zhuhai Air Show that it has signed a letter of intent (LOI) to purchase up to 10 C919 aircraft from Shanghai-based Commercial Aircraft Corporation of China, Limited (COMAC)
GE Capital Aviation Services Announces Letter of Intent to Purchase Up to Ten C919 Aircraft from COMAC

 

PRZOOM - /newswire/ - Zhuhai, China, 2010/11/16 - GE Capital Aviation Services Limited (GECAS) announced at the Zhuhai Air Show that it has signed a letter of intent (LOI) to purchase up to 10 C919 aircraft from Shanghai-based Commercial Aircraft Corporation of China, Limited (COMAC). NYSE: GE

   
 
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The LOI consists of five firm purchases, and options for five additional aircraft.

“We are very pleased to work with GECAS again,” said Zhang Qingwei, chairman of COMAC. “It is COMAC’s vision to provide customers with civil aircraft that are safer, more economic, more comfortable and more environmental friendly. GECAS is one of the leading aircraft lessors in the world and their order of the C919 is a vote of confidence in our product. We look forward to GECAS helping us bring the C919 to the global market."

GECAS President and CEO Norman C.T. Liu commented: "We are pleased to announce our C919 LOI today. We look forward to a long association with the COMAC team as it continues to build China’s commercial aviation industry.”

The COMAC C919 aircraft is a single-aisle narrow body with over 160 seats and a range of almost 3,000 nautical miles. The aircraft will be powered by CFM’s new LEAP-X1C engine. LEAP-X is a totally new centerline engine formally announced by CFM in mid-2008 and the development program has been progressing steadily ever since. CFM is a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company.

About COMAC
Commercial Aircraft Corporation of China, Limited (COMAC), based in Shanghai, was established in 2008 with funding from the Chinese government and several China-based corporations. COMAC functions as the main vehicle in implementing large passenger aircraft projects in China. It is also mandated with the overall planning of the development of trunk liner and regional jet programs and realizing the industrialization of civil aircraft in China, specializing chiefly in the research, manufacture and flight tests of civil aircraft and related businesses such as marketing, servicing, leasing and operations of civil aircraft. The company has six member organizations: COMAC Commercial Aircraft Co., Ltd., (ACAC), Shanghai Aircraft Design and Research Institute (SADRI), Shanghai Aircraft Manufacturing Co., Ltd., Shanghai Aircraft Customer Service Co., Ltd., (SAMC), Beijing Civil Aircraft Technology Research Center., (BCATRC) and Shanghai Aviation Industrial (Group) Co., Ltd. (SAIGC).

About GE Capital Avaition 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 23 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. GE is Imagination at Work.

Follow GE on Twitter: GECASNews

 
 
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GE Capital Aviation Services Announces Letter of Intent to Purchase Up to Ten C919 Aircraft from COMAC

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Contact: Dan Whitney - GE Capital Aviation Services 
203-585-2268 dan.whitney[.]ge.com
 
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