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GE CAPITAL AVIATION SERVICES ANNOUNCES LETTER OF INTENT TO PURCHASE UP TO TEN C919 AIRCRAFT FROM COMAC

November 16, 2010

Zhuhai, China, NOVEMBER 16, 2010 --- GE Capital Aviation Services Limited (GECAS) today announced at the Zhuhai Air Show that it has signed a letter of intent (LOI) to purchase up to 10 C919 aircraft from Shanghai-based Commercial Aircraft Corporation of China, Limited (COMAC). The LOI consists of five firm purchases, and options for five additional aircraft.

“We are very pleased to work with GECAS again,” said Zhang Qingwei, chairman of COMAC. “It is COMAC’s vision to provide customers with civil aircraft that are safer, more economic, more comfortable and more environmental friendly. GECAS is one of the leading aircraft lessors in the world and their order of the C919 is a vote of confidence in our product. We look forward to GECAS helping us bring the C919 to the global market."

GECAS President and CEO Norman C.T. Liu commented: "We are pleased to announce our C919 LOI today. We look forward to a long association with the COMAC team as it continues to build China’s commercial aviation industry.”

The COMAC C919 aircraft is a single-aisle narrow body with over 160 seats and a range of almost 3,000 nautical miles. The aircraft will be powered by CFM’s new LEAP-X1C engine. LEAP-X is a totally new centerline engine formally announced by CFM in mid-2008 and the development program has been progressing steadily ever since.  CFM is a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company.

About COMAC

Commercial Aircraft Corporation of China, Limited (COMAC), based in Shanghai, was established in 2008 with funding from the Chinese government and several China-based corporations. COMAC functions as the main vehicle in implementing large passenger aircraft projects in China. It is also mandated with the overall planning of the development of trunk liner and regional jet programs and realizing the industrialization of civil aircraft in China, specializing chiefly in the research, manufacture and flight tests of civil aircraft and related businesses such as marketing, servicing, leasing and operations of civil aircraft. The company has six member organizations: COMAC Commercial Aircraft Co., Ltd., (ACAC), Shanghai Aircraft Design and Research Institute (SADRI), Shanghai Aircraft Manufacturing Co., Ltd., Shanghai Aircraft Customer Service Co., Ltd., (SAMC), Beijing Civil Aircraft Technology Research Center., (BCATRC) and Shanghai Aviation Industrial (Group) Co., Ltd. (SAIGC) .

Contact Information

Dan Whitney
Name
Dan Whitney
Job Title
Director Global Communications
Division
GE Capital Aviation Services
Phone
203 585 2268
Fax
Mobile
203 300 8707
Email
dan.whitney@ge.com

About GE Capital Aviation Services (GECAS)

GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,600 owned and serviced aircraft with over 230 airlines. With 40+ years of industry experience, GECAS is recognized as the pre-eminent airline leasing company in the world, offering a wide range of aircraft types and financing options, including operating leases and secured debt financing. GECAS also provides an ever expanding array of productivity solutions including spare engine leasing, aviation consulting services, and spare parts financing and management. GECAS, a unit of GE Capital, has offices in 23 cities around the world, and services customers in 75+ countries. (www.GECAS.com

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