GECAS and Emirates sign purchase and leaseback transaction

GE Capital Aviation Services (GECAS), signed a purchase and leaseback transaction with Emirates airline for three new Boeing 777-300ER aircraft and seven spare engines. The first aircraft from the airline’s existing order book with Boeing was delivered on May 30. The other aircraft are scheduled for delivery later in 2012. The leaseback of seven spare engines — four GE90s and three GP7200s – was successfully completed in June.