FARNBOROUGH, United Kingdom, July 19 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) and GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric (NYSE: GE), today announced an order for 40 Next-Generation 737-800s.
The order is valued at approximately $3 billion at average list prices.
"We are pleased to announce this Boeing order and the further growth of our fleet," said Norman C.T. Liu, president and CEO of GECAS. "Over the years, GECAS has successfully leased many 737s to airlines around the world."
"Today's announcement with GECAS reaffirms the Boeing Next-Generation 737 as a highly successful asset, both in operation with airlines as well as in the financial community," said Marlin Dailey, vice president of Sales for Boeing Commercial Airplanes. "GECAS has more than 300 Next-Generation 737s in its fleet with another 105 to be delivered to lessees, including today's announcement."
Ideal for the leasing market, the Next-Generation 737 offers lessors the widest choice of customers to place the airplane and the best residual value retention of any airplane. GECAS' continuing acquisition of new 737s reflects solid demand for rapid addition of new airplanes by customers throughout the world.
With its 737 family of single-aisle airplanes and extensive support capabilities, Boeing excels in meeting the needs of every type of customer, from all parts of the world and every type of business model. This makes the Next-Generation 737 the ideal choice for lessors, who have a wide range of customers requesting the airplane, and for their leasing customers who have confidence in an airplane that delivers on its promises and trust in the manufacturer with the most extensive operational support infrastructure in the world.
Voted by readers of Executive Travel Magazine the favorite single-aisle airplane of the most frequent travelers, the 737 is the preferred means of travel among passengers targeted by potential leasing customers. Together with its legendary track record in holding residual value, this proven passenger preference means that the 737 offers the best means to establish secure, long-term leasing business.
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,800 owned and managed aircraft with approximately 245 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 23 cities around the world. http://www.ge.com.
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