Friday, 23 May 2014

Myanmar Airways to sign agreement with Boeing

Myanmar Airways will this month finalise the contract with Boeing over the decoration of its 10 new aircraft.

The state-owned airline is working with the US aircraft maker in finalising the details of the aircraft, said a source from the company.

The source noted that the new aircraft would be decorated accordingly on Myanmar Airways’ requirements.

Myanmar Airways and GE Capital Aviation Services signed the leasing contract for the 10 new aircraft in Singapore on February 11. It was in line with the airline’s goal to become the national flag carrier, with the operations in more international routes. It is currently serving all major domestic destinations from its main base at Yangon International Airport. The leasing contract has won the government’s approval.

Operating since 1948, the airline started to stand on its own feet financially in the 2013-14 fiscal year. It is financing the leasing on its own money, not the government budget.

Deliveries of the new leased aircraft are scheduled to begin in June 2015 and come from GECAS’ existing order book with Boeing. The contract calls for six Boeing 737-800 models and four Boeing 737-8MAX models. The aircraft will deliver through 2020.

The leasing contract was initiated by GE Capital Aviation Services, the commercial aircraft leasing and financing arm of GE. When the contract was signed, Norman C.T. Liu, president and CEO of GECAS, said “This is an important milestone for the airline and for the development of Myanmar’s aviation industry.”

GECAS currently leases two Embraer E190 aircraft to the airline. In addition, GECAS’ AviaSolutions consulting business has signed a memorandum of understanding with the airline and will work with its senior management to develop a strategic growth plan for the airline with a focus on route and network development.

source: Eleven Myanmar
Related Posts Plugin for WordPress, Blogger...