GE Capital Aviation Services To Lease 10 New Boeing Aircraft With Myanma Airways

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(RTTNews.com) - GE Capital Aviation Services, or GECAS, the commercial aircraft leasing and financing arm of General Electric Co. ( GE ), has inked a contract with Myanma Airways, the flag carrier of Myanmar, to lease 10 new Boeing narrow bodies. Deliveries of the new leased aircraft are slated to commence in June 2015 and come from GECAS' existing order book with Boeing. The contract calls for six Boeing 737-800 models and four Boeing 737-8MAX models. The aircraft will deliver through 2020.

Myanma Airways, established in 1948, is the state-owned airline of Myanmar, now serving major domestic destinations from its main base at Yangon International Airport.

Currently, GECAS leases two Embraer E190 aircraft to Myanma. Further, its AviaSolutions consulting business has reached a memorandum of understanding with the airline and will work with its senior management to develop a strategic growth plan for the airline with a focus on route and network development, the company noted.

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Referenced Stocks: BA , GE

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