PAS17: GECAS Shows More Love to Airbus than Boeing

The first big order announcements from the 52nd Paris Air Show are coming in, with Airbus and Boeing each having something to smile about from GECAS.

GECAS (GE Captial Aviation Services) has placed two large orders for narrow-body aircraft, with each of the two dominant manufacturers. But the lessor has placed an order five times larger for Airbus A320/A321neo aircraft today (100) than its order announcement (20) for the new Boeing 737 MAX 10s.

GECAS is leading aviation leasing and financing company with 50 years of aviation finance experience. It invests in 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 1,950 aircraft (1,660 fixed wing/306 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~400 aircraft. GECAS serves 264 customers in over 75 countries from a network of 26 offices.

GECAS Order for 20 Boeing 737 MAX 10s

In fact, the order announced today announced for 20 737 MAX 10s at the Paris Air Show, consists of converting 20 of GECAS’s existing MAX orders to the larger MAX 10.

“This 737 MAX 10 order further enhances our fleet with the newest technology, offering our customers commonality along with increased range and available seating,” said Alec Burger, President and Chief Executive Officer of GECAS. “Combining the increased capacity of the 737 MAX 10 and the CFM International LEAP-1B engines offers our customers many benefits.”

It’s important to note that GECAS already has 170 737 MAX aeroplanes on order, which is the largest order for this aircraft placed by any aircraft leasing company.

“The 737 MAX 10 will be the most profitable aeroplane the single-aisle sector has ever seen,” said Boeing Commercial Airplanes President and CEO Kevin McAllister. “GECAS understands the benefits the 737 MAX 10 will bring to its customers across the globe. We appreciate their continued confidence in the 737 MAX family.”

Like all of Boeing’s 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, the Boeing Sky Interior, large flight deck displays, and other improvements delivering the highest efficiency, reliability and passenger comfort in the single-aisle market.

The 737 MAX is the fastest-selling aeroplane in Boeing history.

Sidenote: This Boeing 787-10 Dreamliner and 737 MAX 9 coordinated stunt flight is everything air shows were made for:

GECAS Order for 100 Airbus A320/A321neo

GECAS has signed a firm order for 100 A320neo Family aircraft and has selected CFM’s LEAP-X engine for all 100 A320neo Family aircraft.

This new order brings the total number of Airbus aircraft ordered by GECAS to almost 600 aircraft. Of these 220 are A320neo Family aircraft.

“The A320neo aircraft is an excellent product. GECAS is pleased to make this additional commitment for A320neos to meet strong customer demand for this type,” said Alec Burger, President and CEO of GECAS, “The A320neo family aircraft powered by CFM’s LEAP-1A engines, with now proven increased fuel efficiencies, longer range and higher seating capacity will continue to be one of our core assets in our lease portfolio. The A321 version has also gained strong acceptance from customers in various new markets proving the versatility of the type.”

“GECAS’ renewed order of our best-selling A320neo aircraft, underscores the continuing strong market demand for these fuel-efficient aircraft,” said Fabrice Brégier, Airbus COO and President Commercial Aircraft. “The unmatched, low operating costs and appeal of the A320 Family make it a strong asset in GECAS’ portfolio.”

The A320neo Family incorporates the very latest technologies including new generation engines and Sharklets, which together deliver at least 15 percent fuel savings at delivery and 20 percent by 2020. With more than 5,000 orders received from over 90 customers since its launch in 2010, the A320neo Family has captured some 60 percent share of the market.