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GE Capital Player in Cargo Aircraft Market
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Professing to be "very conservative in what we do," GE Capital Aviation Services, the world's largest aircraft leasing company that six weeks ago placed record-shattering orders for 450 regional airliners, is holding back on the A3XX. "I'd rather just keep my powder dry on that right now," GECAS president and CEO Henry Hubschman told Show News. "We're definitely studying it, and if Boeing is offering a 747 stretch, I'd anticipate we'd look at that very closely too." |
The markets for regional jets and cargo aircraft will have higher than average growth over the next few years, and GE Capital Aviation Services will be a big player in both, according to Henry Hubschman, president and CEO of the world's largest aircraft leasing company.
"In cargo, we have a special ability to help," he told Show News. Not only has GECAS bought new cargo aircraft in the last 15 months or so, but it has also been active buying used passenger aircraft and selling them to cargo companies for conversion, then financing the conversion as well.
"From a standing start 15-18 months ago, I would say we have a very significant number," he said.
GECAS owns some 600 of its 950 airliner fleet, and many may be candidates for conversion. "You can well imagine that if you can purchase hypothetically 40 of a certain type, or 50, which you can deliver to a conversion shop at regular points in time, that in itself could help drive significant productivity and savings in the conversion as well as guaranteeing a steady stream of products to the cargo company," he said. "It also helps with the long term residual value of the assets."
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