GE Capital Aviation Services: Difference between revisions
MilborneOne (talk | contribs) →Clients: 1800 aircraft with 245 airlines - a list of all these is really not notable or required |
MilborneOne (talk | contribs) →History: removed order guff - GECAS does it all the time so not notable - trying to start a better history - additions and citations welcome |
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==History== |
==History== |
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GECAS was formed in 1993 to manage the assets bought from the irish-based Guiness Peat Aviation. The company GE Capital Aviation Services Limited was based in Ireland and originally staffed by former GPA employees. GE Capital also incorporated the California-based Polaris Aircraft Leasing into the group as the American-based arm. |
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In early 2007, GECAS placed an order with [[Boeing]] for fifteen [[Boeing 777|777]] aircraft and twenty four [[Boeing 737 Next Generation|737-800]] aircraft in a $5.34 billion deal. The aircraft are scheduled to be delivered between 2008 and 2010.<ref name="bbc">{{cite news | url=http://news.bbc.co.uk/2/hi/business/6288005.stm |title=GE places $5bn Boeing plane order |accessdate=2007-01-22 |work=[http://news.bbc.co.uk BBC News] | date=2007-01-22}}</ref> |
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In 2015 GECAS tookover the Irish-based Milestone Aviation to add Helicopters to its leasing portfolio.Gecas Moves Into Helicopter Leasing with Milestone Takeover.<ref>https://www.ainonline.com/aviation-news/business-aviation/2015-02-02/gecas-moves-helicopter-leasing-milestone-takeover</ref> |
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In November 2008, GECAS announced a signed contract for five [[COMAC ARJ21|COMAC ARJ21-700]] regional jets. [[COMAC ARJ21|COMAC ARJ21-700]] jets are produced by Shanghai-based Commercial Aircraft Corporation of China. The contract includes options for 20 additional aircraft. Deliveries of the aircraft to GECAS will begin in 2013.<ref>[http://www.investors.com/breakingnews.asp?journalid=82776467 ]{{dead link|date=November 2010}}</ref> |
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At the 2010 Farnborough airshow, [[Airbus]] and [[Boeing]] announced that GECAS had placed orders for a further 20 A320s and 40 737s.<ref name="flightglobal1"/> |
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At 2010 Zhuhai airshow, GECAS announced that it has placed orders for 10 [[COMAC C919]] aircraft from Shanghai-based [[Commercial Aircraft Corporation of China]] (COMAC).<ref>[http://www.genewscenter.com/Press-Releases/GE-CAPITAL-AVIATION-SERVICES-ANNOUNCES-LETTER-OF-INTENT-TO-PURCHASE-UP-TO-TEN-C919-AIRCRAFT-FROM-COMAC-2cc9.aspx GE CAPITAL AVIATION SERVICES ANNOUNCES LETTER OF INTENT TO PURCHASE UP TO TEN C919 AIRCRAFT FROM COMAC]</ref> |
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At the 2011 Paris Air Show two [[Boeing 747-8]] Freighters were ordered as well as eight additional [[Boeing 777|Boeing 777-300ER]]s.<ref>[http://www.flightglobal.com/articles/2011/06/21/358517/paris-gecas-orders-two-747-8fs-and-eight-777-300ers.html PARIS: GECAS orders two 747-8Fs and eight 777-300ERs]. Flightglobal.com (2011-06-21). Retrieved on 2013-08-16.</ref> |
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==References== |
==References== |
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Revision as of 19:37, 1 April 2015
| Company logo | |
| Company type | Subsidiary unit |
|---|---|
| Industry | Aviation leasing |
| Headquarters | |
Area served | Worldwide |
Key people | Norman Liu, President |
| Products | aircraft leasing |
| Parent | GE Capital |
| Website | www |
GE Capital Aviation Services (GECAS) is a unit of GE Capital, itself part of the large conglomerate General Electric. The president of GECAS is Norman Liu. GECAS is responsible for the leasing of aircraft and associated equipment to airlines. GECAS buys aircraft from manufacturers like Airbus and Boeing and then leases them to airlines, typically on three to five year leases, usually on dry lease contracts. It also buys aircraft from airlines and leases them back. The company has two global headquarters, located in Shannon, Ireland and Stamford, CT.
The primary competition for GECAS is ILFC, although other companies such as Air Lease Corporation, Aviation Capital Group, AerCap, BBAM and SMBC Aviation Capital also compete with it. GECAS is the largest aircraft lessor in the world by fleet size according to the 2005 Airfinance Journal Operating Lessor Survey.
GECAS has a fleet of over 1800 aircraft, used by 245 airlines.[1] Nearly all aircraft owned by GECAS are powered by engines from either GE Aviation, another subsidiary of General Electric, or CFM International, a GE Aviation/Snecma joint venture.
History
GECAS was formed in 1993 to manage the assets bought from the irish-based Guiness Peat Aviation. The company GE Capital Aviation Services Limited was based in Ireland and originally staffed by former GPA employees. GE Capital also incorporated the California-based Polaris Aircraft Leasing into the group as the American-based arm.
GECAS also owns a minority stake in Oxford Aviation Academy retained when they sold 80% (before dilution) of GECAT to STAR Capital Partners in 2007.
In 2015 GECAS tookover the Irish-based Milestone Aviation to add Helicopters to its leasing portfolio.Gecas Moves Into Helicopter Leasing with Milestone Takeover.[2]
