ATR and lessor GE Capital Aviation Services (Gecas) have closed a $241 million deal here at the Dubai Airshow for five ATR 72-600 regional turboprops, plus five options. ATR CEO Filippo Bagnato and Gecas president and CEO Norman Liu signed the contract here on Sunday. “These aircraft will support the strong growth in regional air transport we anticipate over the coming years,” Liu said. Deliveries are scheduled to begin in 2015. Previously at the show, ATR (Stand 1424) also announced an order from Saudi Arabia’s Alpha Star Aviation Services.
GE Capital Aviation Services
Backed by five launch customers from across Europe, Asia and North America committing to 102 aircraft, Boeing pressed the “Go” button for its long-anticipated 787-10 development on June 17. United Airlines, British Airways, Singapore Airlines, GE Capital Aviation Services (Gecas) and Air Lease stepped up to support the stretched, longer-range Dreamliner, and they appear to have been influential in shaping the design and performance goals.
Despite the torrential rain at Le Bourget yesterday, Airbus and Boeing both notched up some key commitments. While the latter edged closer to being able to launch the 787-10X, with interest from Gecas, its rival across the Atlantic also courted the world’s leading lessors, with ILFC ordering even more A320neos; and Doric placing an order for A380s.
If nothing else, China’s Comac has shown considerable persistence in its pursuit of certification for the ARJ21-700 regional jet, now more than a decade into development and at least a year-and-a-half away from entry into service.
Comac has received 50 more commitments for its new C919 narrowbody airliner. Three contracts announced on the first day of Airshow China 2012 in Zhuhai call for 20 each of the twinjet to go to Chinese carriers Joy Air and Hebei Aviation, with 10 more signed for by leasing group Gecas. But the first flight of the C919 now seems likely to be pushed back again due to a new delay with Comac’s ARJ21 regional airliner development.
Japan’s Sumitomo Mitsui Bank (SMBC) beat more than 30 other bidders to complete the acquisition of RBS Aviation Capital on October 15, demonstrating the growing importance of leasing in new-airliner acquisitions. The bank’s new SMBC Aviation division intends to merge two other leasing companies owned by its shareholders to challenge for the number-three position in the leasing sector, controlling some 331 aircraft.
Fuel efficiency and its effect on the useful life of aging aircraft is a dominant factor in the thinking of aircraft leasing companies, which are increasingly helping credit-squeezed carriers to refresh their fleets. Their presence in the market for airliner acquisition has continued to grow in the last two decades, with operating leases now thought to account for almost 40 percent of total deals today.
Boeing converted a tentative order for five 747-8 Intercontinentals from Air China to firm status on its Orders and Deliveries web site today, marking the end of a roughly year-and-a-half-long wait for Chinese government approval.