16 May 2012
GE Capital Aviation Services Helps Build Sriwijaya Air's
Fleet With 12 Leased Boeing 737s
SINGAPORE, May 16, 2012 - GE Capital Aviation Services
Limited (GECAS), the mercial aircraft leasing and financing
unit of GE, announced it will lease 12 Boeing 737-500s to
help the Indonesian carrier Sriwijaya Air upgrade its
fleet.
The first aircraft went into service today, with the
remaining scheduled for delivery through January 2013. The
12 aircraft, with blended winglets for improved fuel
savings, are ing off long-term lease with Continental
Airlines, now merged with United Airlines.
"This plex transaction with an aggressive delivery schedule
is another example of how GECAS is more than just a
lessor," said Antony Snelleman, senior vice president and
region manager for GECAS. "We're helping Sriwijaya build
its business in a country that needs more airline service."
GECAS estimates double digit growth in the Indonesian
passenger market for the next two or three years.
"PT Sriwijaya is growing very fast and having a
partner like GECAS that can quickly deliver aircraft to
expand our business is critical," said Chandra Lie,
chief executive officer of PT Sriwijaya Airlines.
"Only a pany like GECAS with their expertise and
experience could make this transaction such a
success."
Privately-held Sriwijaya Air started service in 2003 and
today flies to nearly 50 destinations in Indonesia as well
as Singapore and Penang.
About GE Capital Aviation Services (GECAS)
GECAS, the U.S. and Irish mercial aircraft financing and
leasing business of GE, has a fleet of over 1,725 owned and
managed aircraft with over 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.)
GE (NYSE: GE) works on things that matter. The best people
and the best technologies taking on the toughest challenges.
Finding solutions in energy, health and home, transportation
and finance. Building, powering, moving and curing the world.
Not just imagining. Doing. GE works. For more information,
visit the pany's website at www.ge.
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