The FINANCIAL — GE Capital Aviation Services announced that two of its 2011 transactions were awarded “Deal of the Year” honors by AirFinance Journal.
According to General Electric Company, the awards were presented during the annual AirFinance Journal New York Conference earlier this week.
The editors of AirFinance Journal have been recognizing key industry transactions for over 20 years, working in conjunction with leading market professionals. “The AirFinance Journal awards are the most sought after in the aviation industry and GECAS' success serves to illustrate the company's continued excellence and commitment to this sector,” said said Dickon Harris, managing editor.
The magazine named GECAS’ $290 million asset backed securitized sale for a pool of 30 aircraft engines “Capital Markets Deal of the Year.” The Rotor engines transaction is backed by leases to 18 airlines. The deal was the first pooled aviation securitized sale placed into the capital markets since 2007.
GECAS and CDB Leasing, a subsidiary of China Development Bank, were also recognized with the “Asia/Pacific Deal of the Year” for the sale of a GECAS aircraft portfolio. The deal for 32 aircraft with leases attached is worth over $1.7 billion. In 2009, the two entities did a similar transaction for 15 aircraft from the GECAS portfolio. It was the first time a Chinese lessor had acquired a portfolio of aircraft on lease to non-Chinese airlines.