Air Asia forms agreement with GE Capital Aviation Services for 11 Boeing aircraft

Airline Industry Information, June 18, 2003

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Air Asia will add 11 Boeing 737 aircraft to its fleet as part of an expansion plan.

Under an agreement with GE Capital Aviation Services, the Malaysian carrier will take delivery of the Boeing aircraft over a year, thus increasing its fleet to 18 aircraft by mid-2004. Air Asia will purchase four of the aircraft from the company, while the remaining seven will be acquired under a lease agreement.

The financial terms of the agreement have not been disclosed, reported Reuters.

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