Saturday 18 November 2017

Shannon-based leasing firm GECAS places $8bn Boeing jet order

GE Capital Aviation Services Ltd (GECAS) is based at Shannon
GE Capital Aviation Services Ltd (GECAS) is based at Shannon
John Mulligan

John Mulligan

The aircraft leasing arm General Electric, GECAS, has placed a $8.2bn order for 75 Boeing jets.

Formed after GE bought the bulk of Tony Ryan's collapsed Guinness Peat Aviation (GPA) in 1993, GECAS is one of the largest aircraft leasing firms in the world. It has an in-service and on-order fleet that includes 1,700 fixed-wing jets and about 250 helicopters.  One of its international headquarters is in Shannon, Co Clare.

The list price for the 765 Boeing 737 MAX 8 aircraft that GECAS has ordered is $8.2bn, but it would have received a discount.

It increases GECAS’ firm order book for the 737 MAX to 170 – the largest of any aircraft leasing company.

“These new orders will enable GECAS to serve our clients’ needs — assisting in managing their fleets, transitioning aircraft and providing new equipment,” said Alec Burger, president and chief executive officer of GECAS.

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