GE Capital Aviation Service signed a memorandum of understanding (MoU) yesterday at the Farnborough Airshow with CFM International to participate in the engine manufacturer’s new product offering for leasing companies, called Portable Maintenance for Lessors (PML). The final agreement should be complete by year-end, the companies said.
GE Commercial Aviation Services
The trend over the last few years in which customers have placed extremely large orders for airliners has raised questions about the underlying reasons and its potential effect on OEMs that continue to raise production rates in response. The practice seems most prevalent among customers for narrowbodies, prompting both Boeing and Airbus to project rate increases to well beyond 40 in the coming years and raising concerns within some circles of a so-called bubble in the sector.
Boeing’s 737 MAX program picked up further market momentum yesterday as a pair of high-profile leasing companies–GECAS and ALAFCO–committed to a total of 120 airplanes worth almost $11 billion at list prices.
The larger of the two deals, inked by U.S. leasing giant GECAS, covered 75 of the future CFM International Leap 1B-powered narrowbodies, as well as 25 of the current single-aisle 737NGs.
The four panelists participating in the last session held at the March 19 to 20 International Society of Transport Aircraft Traders (ISTAT) conference in Scottsdale, Ariz., reacted to what CIT Group Transportation Finance president and panel moderator Jeffrey Knittel called the “mega order syndrome” with mixed but carefully considered opinions, while most attendees appeared concerned about an
GE Capital Aviation Services (Gecas) announced last month that it placed an order for another two ATR 72-600s, along with options for a further two, from the Franco-Italian turboprop manufacturer. The order follows Gecas’ first-ever ATR order placed in June at the Paris Air Show and brings the total number of ATRs ordered by the leasing company to 17, along with options on another 17. Gecas expects to begin taking delivery of the new airplanes late this year.
CFM International recorded a record year in 2011, logging orders for 1,500 commercial, military and spare CFM56 engines and commitments for 3,056 Leap engines for a combined value of $51.7 billion at list prices.
Democrats and Republicans wrangling over the debt ceiling, spending and tax increases and tax cuts have come up with a deal nobody really likes. In the meantime the economy continues to stumble along to the pulse of a stock market fluctuating wildly. Unemployment is nudging 9.2 percent, the housing market remains depressed, and the President again has singled out corporate jet owners as the whipping boys.
Boeing and GE Capital Aviation Services (GECAS) have closed a firm order for two 747-8 Freighters and eight 777-300ERs worth a combined $2.9 billion at list prices, the Chicago-based manufacturer announced today.
Organizers of the 2011 Paris Air Show (June 20-26) promised a feel-good factor that would leave the aerospace industry in no doubt that the long-awaited recovery has kicked in. They kept their word, and then some, with wave upon wave of new airliner orders and the associated new business in engines, equipment and support packages.
ATR has revealed another of its previously undisclosed customers–Nordic Aviation Capital (NAC). Yesterday at the Paris Air Show the Danish lessor and aircraft trading company placed a firm order, valued at $450 million, for 10 ATR 72-600s, with 10 options for more.
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