GECAS and Frontier Airlines sign purchase-and-leaseback deal for nine new Airbus A321 aircraft

GE Capital Aviation Services (GECAS) signed a purchase-and-leaseback agreement with Frontier Airlines for nine new Airbus A321 aircraft. Delivery of the first new aircraft is scheduled for October 2015 with the remaining new deliveries scheduled in 2015 and 2016. All nine aircraft are powered by CFM56-5B3 engines and are part of Frontier’s existing orderbook with Airbus. The new A321s will replace certain A319s in Frontier’s fleet. GECAS modified the length of the A319 leases with Frontier to facilitate its fleet transition.