GECAS to Lease 6 Airbus A320 Aircraft to Garuda's Citilink

GE Capital Aviation Services, the commercial aircraft leasing and financing unit of GE, today announced the signing of an operating lease agreement for six new Airbus A320 aircraft with Garuda Indonesia's Citilink unit. The aircraft will be powered by CFM56-5B engines. The aircraft come from GECAS' existing order book with Airbus and are scheduled for delivery in the first half of 2013. The agreement was signed by Citilink Garuda EVP Finance Elisa Lumbantoruan, and GECAS Asia Pacific VP Sales David Settergren. It was witnessed by Emirsyah Satar, President and CEO Garuda Indonesia and Norman Liu, President and CEO of GECAS. "This agreement is part of Garuda's ongoing fleet revitalization with brand new aircraft from Airbus and Boeing," said Emirsyah Satar. "These aircraft will help modernize Citilink with new, reliable aircraft." "Garuda Indonesia is a valued customer and we're pleased to be playing a role in their fleet modernization," said Norm Liu. "Over the last couple of years, we have signed agreements totaling 17 new 737-800 aircraft and we are proud to welcome Citilink as a new logo among our customer base. We look forward to our continued association with both Garuda and Citilink in the years ahead."

Source: General Electric
Date: Oct 11, 2011