GECAS completes purchase and leaseback with Philippine Airlines for two Airbus A321s

GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, today announced the completion of a purchase-and-leaseback transaction with Philippine Airlines involving two new Airbus A321 aircraft. The two aircraft — one delivered in August, and the other earlier this month — will be used to expand the airline’s fleet. Philippine Airlines, the flag carrier of the Philippines, operates a fleet of some 50 aircraft to more than 40 destinations.