STAMFORD, CT, USA -- GE Capital Aviation Services (GECAS) has signed a contract with Airbus Industrie for the purchase of 26 Airbus Industrie aircraft, including a first-time order for the European consortium's latest widebody twin A330-200 and a repeat order for the A320 and A321 single-aisles. The deal, which covers 26 firm orders (16 for the A330-200 and 10 for the A320/A321), boosts the total number of existing and future Airbus aircraft in GECAS' portfolio to over 200 aircraft. The value of the firm orders will exceed $2.3 billion, according to published Airbus prices. The A330-200s will be powered by the increased thrust variant (72,000 lb) of the General Electric CF6-80E1 powerplant, while the A320s will be powered by the CFM International 56-5B/P powerplant. GECAS will take delivery of its first A330-200 in Spring 2002, and deliveries will continue thereafter through 2005. The incremental A320s will be integrated into GECAS' existing firmly ordered single-aisle backlog, which ensures deliveries of about 15 aircraft per year through 2006. GE Capital President and CEO Denis J. Nayden remarked, "In a competitive environment, having the right product at the right time is critical. This additional order continues our strong commitment to maintain a modern state-of-the-art aircraft fleet at GECAS and to deliver a full line of financial services to the aviation industry through our world wide sales and support organization." GECAS President Henry Hubschman said, "Adding the A330-200 to GECAS' portfolio while topping up our backlog of A320 family aircraft is key to our goal of remaining the world's leading full service aviation financing company. These airplanes, powered by engines of outstanding technological innovation and proven reliability, will allow us to provide even more choice and value to our customers." Airbus Industrie Chief Executive Officer Noël Forgeard said, "We are extremely pleased by GECAS' repeat selection of the A320 and its confidence in Airbus Industrie's state-of-the-art product line including the efficient and highly popular A330-200 which is certain to enhance GECAS' reputation as a comprehensive solutions provider." The higher-thrust CF6-80E1 engines (72,000 lb) that will power the A330-200s are produced by GE Aircraft Engines, a world leader in the design, production, service and support of jet engines for commercial, military, marine and industrial applications. With more than 200 million flight hours of experience, the CF6 family has achieved remarkable levels of reliability and durability. Each day, approximately 1,700 CF6-powered aircraft in service world wide average nearly 4,100 departures and operate almost ten hours, yet maintain a departure reliability of 99.95 percent. The CFM56-5B/P engines that will power the A320s are produced by one of the world's leading suppliers of commercial aircraft engines, CFM International, a 50/50 joint company between Snecma of France and GE. The A320 entered service powered by the CFM56-5A engine in 1988. In 1994, CFM increased the engine's thrust from 22,000 to 33,000 pounds with the introduction of the CFM56-5B. In 1996, CFM improved the engine's fuel consumption, reliability, and durability with the CFM56-5B/P. Throughout, the -5 family has been the engine of choice for the A320. GECAS, with a fleet of 950 aircraft, owned and managed, is a world-class provider of aircraft and related products and services to 155 customers in 54 countries. GECAS provides airlines with a full range of fleet and financing solutions, including operating leases, sale/leasebacks, aircraft purchase and trading, finance leases, engine/spare parts financing, pilot training, fleet planning and financial advisory services. GECAS, a GE Capital Services company, is headquartered in Stamford, Connecticut, USA and has offices in Miami, Hong Kong, Singapore, Beijing, Vienna and Shannon, Ireland. For more information on GECAS, visit our website at www.gecas.com. GE Capital Services, which has assets of over US$345 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly owned subsidiary of General Electric Company, GE Capital Services, also based in Stamford, CT, provides equipment management, mid-market and specialized financing, speciality insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified services, technology and manufacturing company with operations worldwide. For further information call:
Eleanor OConnell
GE Capital Aviation Services
353-86-816-6668
Eleanor.OConnell@aviation.capital.ge.com
Mary C. Horne
GE Capital
203-357-6978
mary.horne@gecapital.com