GE CAPITAL AVIATION TO LEASE TWO EMBRAER E190S TO MYANMA
(The following is a reformatted version of a press release issued by GE Capital Aviation Services Limited and received via electronic mail. The release was confirmed by the sender.)
September 24, 2012
GE Capital Aviation Services To Lease Two Embraer E190s to Myanma Airways
First Aircraft Leased Into Myanmar By GE Unit
SINGAPORE, September 24, 2012 - GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, announced it will lease two modern Embraer E190 aircraft to Myanma Airways, the flag carrier of Myanmar.
The aircraft are scheduled for delivery in November and December 2012.
GECAS President and CEO Norman C.T. Liu said: “GECAS is very pleased to be partnering with the flag carrier of Myanmar. These two aircraft - which are modern, fuel-efficient aircraft powered by GE engines -- will help Myanma Airways expand its fleet, and their operations. This is another example of our strategy to build our business in emerging markets,” he added.
With this contract, Myanmar becomes the 76th country where GECAS leases aircraft.
Myanma Airways Managing Director Than Tun added: “We are delighted to begin working with established companies like GE and Embraer to help build and modernize our transportation infrastructure and expand the benefits of air travel to our citizens.”
The Embraer E190, powered by CF34-10E engines made by GE Aviation, will expand and modernize the Myanma Airlines fleet. Over 1,000 orders for E-Jets have been placed and over 800 units delivered, to date. The aircraft have ranges of up to 2,400 nautical miles (4,448 kilometers) and feature state-of-the-art, fly-by-wire technology that increase operating safety while reducing pilot workload and fuel consumption.
About Myanma Airways
Established in 1948, Myanma Airways is the only state-owned airline of Myanmar, currently serving all major domestic destinations from its main base at Yangon International Airport. At the end of 2012, it will launch international flights as the national flag carrier of Myanmar.
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 1,710 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. (www.GECAS.com)
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