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All the feedstock aircraft will come from GECAS existing portfolio and converted when the aircraft end their current passenger leases from 2018 onward.
GECAS is pleased to make this additional commitment for A320neos to meet strong customer demand for this type," said Alec Burger, President and CEO of GECAS "The A320neo family aircraft powered by CFM's LEAP-1A engines, with now proven increased fuel efficiencies, longer range and higher seating capacity will continue to be one of our core assets in our lease portfolio.
GECAS owns or services a fleet of over 1,950 aircraft in operation or on order, plus provides loans collateralized on approximately 400 additional aircraft.
In 2001, GECAS announced plans to convert Boeing 737-300 and -400 aircraft from its portfolio to freighter aircraft.
GECAS has ordered 485 aircraft from Boeing to date and its fleet includes several models of the 737, 747, 757, 767 and 777 families.
This order adds to our existing portfolio of A330 aircraft," said Norman Liu, GECAS president and chief executive.
Al Ghaith said: "We are proud to have GECAS as our partners and it just shows the confidence they have to invest in us.
GECAS has 170 MAX airplanes on order, the largest of any aircraft leasing company.
GECAS, the US and Irish commercial aircraft financing and leasing business of GE (NYSE: GE), has a fleet of approximately 1,600 owned and serviced aircraft with 230 customers and offices in 23 cities around the world.
John Leahy, Airbus Chief Operating Officer, Customers, added: "This repeat order from GECAS underscores the ongoing popularity of the A330, and highlights the strong market demand for the A330-300 in particular.
Dubaia[euro](tm)s first low-cost airline flydubai yesterday announced it has secured aircraft financing worth over USD750m in deals with GECAS (General Electric Capital Aviation Services) and BBAM.