GE Capital Aviation Services Announces Signing of Lease Contracts With SAS for Five Boeing 737-800 and Twelve Boeing 737-700 Aircraft

STOCKHOLM, SWEDEN, April, 19, 2011 – GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing unit of GE, announced the signing of lease agreements with Stockholm-based Scandinavian Airline System (SAS) for the delivery of five new Boeing 737-800 aircraft and twelve used Boeing 737-700 aircraft. The new deliveries will come from GECAS’ existing order book with Boeing.

SAS had earlier communicated its decision to phase out its fleet of MD80 and Boeing 737 Classics at its bases in Stockholm and Oslo and replace them with new generation aircraft.

“We’re pleased to be in a position to work with SAS as they execute their fleet upgrade strategy,” commented Norman Liu, GECAS President and CEO.