Stamford, CT- GE Capital Aviation Services Ltd. (GECAS) announced today that it has executed a deal with Emirates, the Dubai-based airline, for the purchase/leaseback of eight GE90-115B engines to support the carrier’s Boeing wide body fleet.

This was the first engine leasing deal consummated between the two companies, and was contracted by the Engine Leasing division of GECAS.  "This represents our first engine sale and leaseback transaction and is important for Emirates in that it gives us a great deal of operational flexibility for a significant part of our engine fleet. Emirates and GE have a long-standing relationship through the continued support that GECAS has provided with aircraft, and now further strengthened by engine leases," said Brian Jeffery, Emirates’ Senior Vice President, Corporate Treasury.

Norman Liu, president and CEO of GECAS, commented, “Our ability to provide both aircraft and engine financing solutions helps our customers operate more efficiently.” 

The Emirates/GECAS relationship dates back to 2003 when the two entered into an agreement to lease GE90-115B powered B777-300ERs. Emirates is a major global airline and operates over 2,200 flights per week to over 100 cities in 62 countries across six continents.

Source: Press Release (GE Capital Aviation Services Ltd. GECAS)