GECAS’ Cargo Aircraft Group signs purchase-and-leaseback deal with Korean Air

GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, has signed a purchase-and-leaseback transaction with Korean Air Lines for five new Boeing 777F freighters powered by GE90 engines as part of the carrier’s fleet renewal program. Deliveries of the aircraft are scheduled in late 2016 and 2017. Korean Air’s passenger and cargo divisions together serve more than 125 destinations in more than 40 countries. Korean Air Cargo currently operates a fleet of some 30 freighter aircraft.