NORWALK, CONN – February 23, 2016 – GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced an expansion of its 737-800 passenger-to-freighter conversion program with Boeing. Boeing will perform the conversions on five GECAS 737-800 aircraft to freighters with the first aircraft scheduled for completion in the fourth quarter of 2017.

“There is strong interest from carriers for the 737-800 freighters as both a replacement for older, less efficient freighters as well as for growth in the standard body sector,” said Chris Damianos, Executive Vice President Specialty Markets at GECAS. “The agreement with Boeing expands our ability to meet customer demand.”

The 737-800 freighter is well-positioned to meet the requirements for a modern standard body freighter. As compared to 737-300 and 737-400 freighters, the 737-800F offers more payload, volume, range and the lowest direct operating cost per tonne.

Formed in 2000, GECAS’ Cargo Aircraft Group currently leases 80 freighters to airline customers worldwide. Its fleet includes the 737, 767, 747 and 777 freighter models. In June 2015, GECAS announced the industry’s first 737-800NG passenger-to-freighter conversion program with plans for Aeronautical Engineers Inc. (AEI) to convert up to 20 aircraft to freighters. In total, GECAS has leased over 60 converted freighters to air cargo carriers worldwide to help them expand or modernize their fleets.

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 narrow-bodies, wide-bodies, regional jets, turboprops, 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 2,150 aircraft (~1,840 fixed wing/ ~310 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 26 offices. [http://www.gecas.com]www.gecas.com.

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com.