GE capital Places Order For Boeing 767s

Boeing Commercial Airplane Group today confirmed that GE Capital Aviation Services (GECAS), a unit of GE Capital Services, has placed an order for 12 767 jetliners.

The package, valued at approximately $1.27 billion, includes nine extended-range 767-300ERs and three 767-400ERs - the newest member of the 767 family. Deliveries will begin in 1999 and continue through 2002. This announcement brings GECAS orders for Boeing 767 jetliners to 44.

All of the GECAS 767s on order are powered by General Electric CF6-80C2-B7F engines. Nine of the 12 newly ordered planes already have been placed with GECAS customers.

"This order reinforces a long-standing message to our customers - GECAS is committed to maintaining a state-of-the-art fleet and will provide flexible solutions to the challenges and opportunities confronting our customers around the globe," said GE Capital President and Chief Operating Officer Denis J. Nayden.

"This investment in the Boeing 767 family is a sound strategic decision for GECAS and a result of listening to our customers," said Henry Hubschman, GECAS president. "These new airplanes are already committed to meeting the needs of our existing customers, and - as a global supplier of financial services and operating leases to the world air transport community - we also expect strong demand for these aircraft well into the future."

"We're pleased that GECAS continues to develop and expand the 767 product line among new customers," said John Hayhurst, vice president - The Americas, Boeing Commercial Airplane Group. "The GECAS order further validates that 767s continue to provide maximum efficiency in the face of rising operational costs while extending twin-aisle passenger cabin convenience to continental routes."

The 767-400ER is 21 feet, 1 inch longer than the 767-300ER. The added length provides about 15 percent more seats, carrying 245 passengers in a three-class configuration and 304 passengers in a two-class configuration. This new derivative shares common features with the 767/757 family of airplanes, bringing all the associated competitive advantages to an operator's fleet.

GECAS owns and manages a fleet of approximately 850 airplanes, providing a full range of aircraft-financing products and services to more than 175 airline companies around the globe.

To date, orders for 840 767s have been placed by 60 customers worldwide.