(GE Capital Aviation Services
, though the acronym is the more common usage) is a unit of GE Capital
, itself part of the large conglomerate General Electric
. The president of GECAS is Norman Liu
. GECAS is responsible for the leasing of aircraft and associated equipment to airlines. GECAS buys aircraft from manufacturers like Airbus and Boeing and then leases them to airlines, typically on three to five year leases, usually on dry lease
contracts. It also buys aircraft from airlines and leases them back.
The primary competition for GECAS is ILFC
, although other companies such as Aviation Capital Group, AerCap, Babcock & Brown Aircraft Management and RBS Aviation Capital
also compete with it. GECAS is the largest aircraft lessor
in the world by fleet size according to the 2005 Airfinance Journal Operating Lessor Survey.
GECAS has a fleet of over 1800 aircraft, used by 245 airlines. Nearly all aircraft owned by GECAS are powered by engines from GE-Aviation
, another subsidiary of General Electric.
In early 2007, GECAS placed an order with Boeing
for fifteen 777
aircraft and twenty four 737-800
aircraft in a $5.34 billion deal. The aircraft are scheduled to be delivered between 2008 and 2010.
In November 2008, GECAS announced a signed contract for five COMAC ARJ21-700
regional jets. COMAC ARJ21-700
jets are produced by Shanghai-based Commercial Aircraft Corporation... Read More