GECAS delivers first A320 NEO to AirAsia as part of deal involving nine Airbus aircraft

GE Capital Aviation Services (GECAS), the commercial aircraft leasing arm of GE, has delivered its first Airbus A320neo to AirAsia from the purchase-and-leaseback transaction with the airline for five new Airbus A320neo aircraft powered by CFM LEAP engines. CFM is a joint venture between GE and Snecma SA. This delivery signifies the first A320neo for AirAsia and first A320neo to enter the GECAS portfolio. Separately, GECAS purchased two Airbus A320s powered by IAE engines from AirAsia and leased to the AirAsia Group two Airbus A320s powered by CFM engines.GE Capital Aviation Services Announces First A320 NEO Delivery to AirAsia as part of a Deal Involving Nine Airbus Aircraft. AirAsia is the largest low-cost carrier in Asia, operating flights to more than 120 destinations in over 20 countries in Asia, Australia, the Middle East and Africa. It currently operates a fleet of about 175 Airbus aircraft. AirAsia Berhad’s wholly-owned subsidiary, Asia Aviation Capital is the advisor and originator of the purchase-and-leaseback deal.