Tag Archives: GECAS

GECAS orders 20 + 15 options Boeing 737-80BCFs

GECAS and Boeing have announced an agreement for 35 Boeing 737-800 Boeing Converted Freighters. This includes 20 firm orders and 15 options.

GECAS’ 737-800BCF order book grows from 15 to 50, enabling GECAS to serve the growing express air cargo market.

Boeing also made this announcement:

Boeing and GE Capital Aviation Services (GECAS) announced today that they have reached an agreement for 35 additional 737-800 Boeing Converted Freighters at the 2018 Farnborough International Airshow.

The deal, which includes 20 firm orders and an option for 15 more, would take GECAS’ 737-800BCF order book from 15 to 50 and enable GECAS to serve the growing express air cargo market.

The commercial aircraft leasing and financing arm of General Electric is the launch customer of the new 737-800BCF. It took delivery of the first converted jet in April and leased it to a Swedish cargo carrier (below).

Above Copyright Photo: West Atlantic Cargo Airlines (UK) Boeing 737-86N WL (BCF) G-NPTA (msn 32740) LGG (Ton Jochems). Image: 942806.

This agreement, which is subject to GECAS board approval, would take the total commitments for the 737-800BCF program to 80 from more than half a dozen customers.

The 737-800BCF carries more payload – up to 23.9 tonnes (52,800 lbs) and flies farther – 2,000 nautical miles (3,750 km) than 737 Classic freighters. The converted jet also offers operators newer technology, better fuel efficiency and reliability than previous standard-body freighters.

Existing 737-800 passenger airplanes are modified at multiple facilities, including Boeing Shanghai Aviation Services Co. Ltd., and Taikoo (Shandong) Aircraft Engineering Co. Ltd., also known as STAECO, in China. Modifications include installing a large main-deck cargo door, a cargo-handling system and accommodations for up to four non-flying crew members or passengers.

Image: GECAS.

GECAS arranges sale-leaseback plus PDP financing for two Boeing 737 MAX 8s for Okay Airways

GECAS has made this announcement:

Following the delivery last week of Okay Airways’ first leased Boeing 737 MAX 8, GECAS signed another contract with Okay Airways for the purchase-and-leaseback with pre-delivery payment financing of two Boeing 737 MAX 8s. The aircraft, fitted with CFM LEAP-1B engines, are scheduled for delivery in July and September 2019.

Established in 2004, Okay Airways is the first privately-owned aviation company in operation in China. Based in Tianjin Binhai International Airport, the carrier currently operates an all-Boeing fleet. The new 737 MAX 8s will provide Okay with the latest technology and fuel efficiency to enhance their fleet, which services over 150 domestic and international routes and connects to approximately 70 cities.

Image: GECAS.

GECAS delivers the first Boeing 737-8 MAX 8 to Jet Airways

GECAS has announced the delivery of the first Boeing 737-8 MAX 8 (VT-JXA) to Jet Airways (India) Limited and the first Boeing MAX aircraft to enter service in India. This new aircraft continues GECAS’ partnership with Jet Airways, which began 25 years ago.

Presently India’s second-largest airline with 119 commercial aircraft, Jet Airways operates over 650 flights a day to destinations in 16 countries across Asia, Europe and North America. The addition of these new technology aircraft, fitted with CFM-LEAP-1B27 engines, aligns with Jet Airways’ growth strategy while offering enhanced fuel efficiency over previous technology.

As Jet Airways recently announced their commitment to adding 150 MAX8 aircraft to their existing fleet, Vinay Dube, Chief Executive Officer, Jet Airways, shared “Partnering with GECAS has enabled us to introduce these modern, fuel efficient aircraft into our fleet. We at Jet Airways are delighted to be able to offer a superior customer experience to our guests with the introduction of these MAX aircraft from GECAS.”

Photos: GECAS and Jet Airways.

In addition, Boeing issued this statement:

(PRNewsfoto/Boeing)

Boeing and Jet Airways on June 19, 2018 celebrated the delivery of the airline’s first 737 MAX airplane. Jet Airways will be first Indian carrier to fly the new and improved 737 airplane, which delivers a double-digit improvement in fuel efficiency and improved passenger comfort.

This delivery marks the first of 150 737 MAX airplanes the Mumbai-based airline has on order with Boeing, following two separate orders for 75 jets placed in 2015 and earlier this year.

Jet Airways is India’s second-largest airline with a fleet of nearly 120 airplanes serving more than 60 destinations across 15 countries across Asia, Europe, North America and elsewhere.

The 737 MAX is the fastest-selling airplane in Boeing history, accumulating more than 4,500 orders from 99 customers worldwide.

The family of airplanes is powered by CFM International LEAP-1B engines, and includes design updates such as Boeing’s Advanced Technology winglet that will result in less drag and optimize performance, especially on longer-range missions. Together, these improvements reduce fuel use and CO2 emissions by at least 14 percent compared to today’s Next-Generation 737s – and by 20 percent more than the single-aisle airplanes they replace.

Photo: Boeing.

Boeing delivers the first 737-800BCF to GECAS and West Atlantic

Boeing on April 19 announced the delivery of the first 737-800 Boeing Converted Freighter (BCF). The first customer is GE Capital Aviation Services (GECAS) and the freighter will be operated by West Atlantic Group, based in Sweden.

West Atlantic will receive four 737-800 aircraft within the next 11 months and, once delivered, the company will operate 23 Boeing 737 freighter aircraft.

Boeing’s Current Market Outlook forecasts that over the next 20 years, customers will need more than 1,100 standard-body converted freighters.

Through its freighter conversion program, Boeing transitions passenger airplanes into freighters, extending the service life of the airplane. The 737-800BCF carries more payload – up to 23.9 tonnes (52,800 lbs) – and has longer range – 2,000 nautical miles (3,750 km) than other standard-body freighters – providing capability to open new markets. The 737-800BCF freighter also offers operators newer technology, lower fuel consumption and better reliability than other standard-body freighters. It primarily will be used to carry express cargo on domestic / short haul routes.

For the 737-800BCF, Boeing has received 45 orders and commitments, from seven customers including: YTO Airlines, based in Hangzhou, China; China Postal Airlines, based in Beijing, China; GECAS, based in Ireland; Air Algerie, based in Algiers, Algeria; LAS Cargo, based in Bogota, Colombia; Cargo Air, based in Sophia, Bulgaria ; and an unannounced customer.

Twelve pallet positions provide 4,993 cubic feet (141.4 cubic meters) of cargo space on the main deck of the 737-800BCF. This will be supplemented by two lower-lobe compartments, combined providing more than 1,540 cubic feet (43.7 cubic meters) of space for revenue-generating cargo.

Existing passenger airplanes will be modified at select facilities located near conversion demand, including Boeing Shanghai Aviation Services Co. Ltd., and Taikoo (Shandong) Aircraft Engineering Co. Ltd., also known as STAECO, in China. Modifications include installing a large main-deck cargo door, a cargo-handling system and accommodations for up to four non-flying crew members or passengers.

Photo: Boeing.

GECAS leases 12 Boeing 737 MAX 8s to Jet Airways

GECAS has committed to lease twelve Boeing 737-8 MAX 8s to Jet Airways (India) Limited with deliveries commencing from June 12, 2018 and continuing into 2020.

Six of these MAX aircraft will be from GECAS’ skyline order while the other six are from sale and lease back transactions from Jet Airways’ order book. The new technology aircraft are fitted with CFM-LEAP-1B27 engines.

Image: GECAS.

GECAS to lease Ethiopian Airlines the first two AEI-converted 737-800 freighters

Ethiopian Cargo and Logistics Services, a division of the Ethiopian Airlines Group, has committed to lease the first two Boeing 737-800 freighters (737-800SF) converted by Aeronautical Engineers, Inc. (AEI) from GECAS, with the first delivery expected in June of 2018, followed by a second in January of 2019.

Ethiopian Cargo and Logistics provides airport–to–airport services across a network of over 91 destinations on both freighter and belly hold services (including both direct service and arranged connection flights). It is also the largest network cargo operator in Africa. With six 777 and two 757 Freighters serving 39 cargo destinations in Africa, the Middle East, Asia the America’s and Europe, Ethiopian’s state-of-the-art cargo terminal delivers an annual capacity of one million tons with services that range from general cargo to special cargo (including perishable, valuable or dangerous goods, live animals and mail & courier).

The AEI converted freighter accommodates eleven full height containers plus one AEP/AEH, a main deck payload of up to 52,000 lb (23,587 kg) and has AEI’s hydraulically-operated cargo door, offering numerous key features to cargo operators.

Image: GECAS.

GECAS takes delivery of its 394th – and last – Next-Generation Boeing 737

GECAS issued this statement:

Culminating a 20-year history of new orders for the type, GECAS has received its 394^th and final skyline order of Boeing’s Next Generation 737. Just over a month prior to Boeing delivering its first 737 MAX to GECAS in January, the lessor took delivery of its final skyline NG order last week.

GECAS 7378NG

With an initial order placed in 1996, GECAS’ NG orderbook accounts for roughly one of every 15 NGs delivered to date. Surpassing other lessor’s skyline orders for the type, GECAS’ placements of NG’s have been leased to 64 operators across 32 countries. Exclusively powered by CFM-56 engines, the narrowbody has served the airline industry for decades and is ideally suited for both commercial passenger and cargo aircraft.

In addition to new orders, GECAS has also provided new aircraft lease financing on an additional ~270 737NGs to customers around the world.

GECAS currently has 170 737 MAX airplanes on order, with the first delivery scheduled for January 2018.

Image: Boeing.

West Atlantic to lease four 737-800 Boeing Converted Freighters from GECAS

West Atlantic Airlines, a European dedicated cargo airline specializing in mail and express freight, has agreed to lease four Boeing 737-800 Freighters from GE Capital Aviation Services (GECAS). The airline will be the first operator to take delivery of the Boeing standard-body converted freighter. GECAS launched the program and provided the prototype aircraft to Boeing in 2016.

The first aircraft is currently undergoing the conversion at Boeing’s modification facility in Shanghai, with subsequent aircraft delivering in 2018 and 2019. This order will provide additional capacity to West Atlantic’s existing fleet of more than 50 freighters.

With 55 years of operating experience and detailed knowledge of the requirements of the express package and mail industries, West Atlantic is a proven supplier of custom-made capacity solutions throughout the EMEA region.

“GECAS is proud to provide these 737-800 converted freighters to West Atlantic,” stated Richard Greener, GECAS’ SVP & Manager Cargo, noting “transitioning into the Next Generation 737 is a logical step as West Atlantic defines its future fleet requirements.”

The 737-800 Boeing Converted Freighter will be equipped with CFM56-7B engines, and carries up to 23.9 tonnes of cargo with 12 main deck positions over 2,000 nautical miles and is an exceptionally cost-effective standard-body freighter.

Image: GECAS.

GECAS orders 20 Boeing 737 MAX 10s

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Boeing and GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric [NYSE: GE], today announced an order for 20 737 MAX 10s at the Paris Air Show, converting 20 of its current MAX orders to the larger MAX 10.

GECAS has 170 737 MAX airplanes on order, the largest of any aircraft leasing company.

Like all of Boeing’s 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, the Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

The 737 MAX is the fastest-selling airplane in Boeing history.

Finnair sells and leases back two Airbus A350-900s with GECAS

https://airlinersgallery.smugmug.com/Airlines-Europe-2/Airlines-Europe-2/Finnair/i-SfLrn2q

Finnair (Helsinki) has entered into a memorandum of understanding (MOU) with GE Capital Aviation Services Limited (GECAS), on the sale and leaseback of two Airbus A350-900 aircraft. The financing will cover Finnair’s 6th and 7th A350 deliveries, which are currently scheduled to enter the Finnair fleet in July 2016 and February 2017, respectively. The value of the transaction at present foreign exchange rates is approximately 265 million euro. The lease period is 12 years, and it includes extension options.

Finnair has ordered a total of 19 new A350-900 XWB aircraft in the fleet or on order. Finnair took delivery of its first A350 aircraft (OH-LWA) on October 7, 2015 and the second (OH-LWB, above) on December 14, 2015. According to the currently anticipated delivery schedule, Finnair will have five A350-900 aircraft at the beginning of the second quarter of 2016, seven by the end of 2016, 11 by the end of 2017, and 19 by the end of 2023.

Disclosures on financing arrangements for the A350 aircraft will be made as those agreements are finalized. Finnair’s fleet consists of both owned and leased aircraft.

Copyright Photo: Eurospot/AirlinersGallery.com. The second Finnair Airbus A350-941 (OH-LWB, msn 019) is also the first A350 to appear in the oneworld special livery.

Finnair aircraft slide show: