NORWALK, Conn., – September 25, 2015 – GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced it signed a purchase-and-leaseback agreement with Frontier Airlines for nine new Airbus A321 aircraft.
Delivery of the first new aircraft is scheduled for October 2015 with the remaining new deliveries scheduled in 2015 and 2016. All nine aircraft are powered by CFM56-5B3 engines and are part of Frontier’s existing orderbook with Airbus. The new A321s will replace certain A319s in Frontier's fleet. GECAS modified the length of the A319 leases with Frontier to facilitate its fleet transition.
Headquartered in Denver, Frontier Airlines operates a fleet of more than 55 aircraft to over 50 destinations in the United States, Mexico, Jamaica and the Dominican Republic on 270+ daily flights.
About GE Capital Aviation Services (GECAS)
GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. With over 45 years of experience, GECAS offers a wide range of aircraft types including narrowbodies, widebodies, regional jets/props, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of over 2,200 aircraft (1,900 fixed wing/300 rotary wing) in operation or on order, plus provides loans collateralized on an additional 400 aircraft. GECAS serves over 270 customers in over 75 countries from a network of 24 offices. www.gecas.com
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. (www.ge.com)
