GE Capital Aviation Services Signs Firm Order for 60 Airbus 320neo Aircraft

PARIS, FRANCE, JUNE 20, 2011 --- GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric [NYSE: GE], announced today a firm order for 60 Airbus 320neo Family aircraft at the 49th LeBourget airshow. GECAS has selected CFM’s LEAP-X engine for all 60 A320neo aircraft.

The deal was announced today by Norman C.T. Liu, President and CEO of GECAS and John Leahy, Airbus Chief Operating Officer Customers. This new order brings the total number of A320 Family aircraft ordered by GECAS to 390.

“The A320neo Family will bring fuel savings to customers while offering the same levels of in-service reliability they expect,” said Norman C.T. Liu, President and CEO of GECAS. “We have a solid track record of placing A320s with customers around the globe.”

“GECAS’ order is further demonstration of the undisputable success of the A320neo Family with customers. This new order underlines its attractiveness in particular to leasing companies, who are expanding their portfolios with the world’s most modern, fuel efficient, single aisle aircraft,” said John Leahy, Airbus Chief Operating Officer Customers. “The low operating costs and proven high dispatch reliability offered by the A320 Family make it a strong asset for the GECAS portfolio.”

The A320 Family has exceeded 7,000 firm orders, with almost 5,000 delivered reaffirming its position as the world’s best-selling single-aisle aircraft family. The A320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range.

The A320neo, available from 2015, incorporates new more efficient engines and large wing tip devices called “Sharklets” delivering significant fuel savings of up to 15 percent, which represents up to 3,600 tonnes of CO2 annually per aircraft. In addition, the A320neo provides a double-digit reduction in NOx emissions and reduced engine noise.

CFM’s LEAP engines incorporate revolutionary technologies never before seen in the single-aisle aircraft segment. The new engine combines advanced aerodynamic design techniques, lighter, more durable materials, and leading-edge environmental technologies, making it a major breakthrough in engine technology. The better engine fuel efficiency, at current fuel prices, translates to significant fuel cost savings for customers.

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