Hong Kong Express to Lease Embraer 170s from GECAS

3 December 2004

HONG KONG, December 3, 2004 -- Hong Kong Express Airways Ltd (HKE) announced today that is will lease four Embraer 170 aircraft from General Electric Commercial Aviation Services (GECAS). Three aircraft are scheduled for delivery to HKE in the second half of 2005 and one in the first half of 2006.

HKE Chief Executive Officer Andrew Tse said: “The aircraft will be used to provide multiple daily services between Hong Kong and secondary cities in mainland China. Together with the extensive air services to over 140 cities worldwide through the Hong Kong International Airport (HKIA), HKE’s plan of operation will strengthen HKIA’s position of being the predominant gateway to mainland China by enhancing the connectivity for mainland China international travelers as well as the air service for local Hong Kong travelers. This is an investment of over US$100 Million, which fully demonstrates our commitment to Hong Kong”

GECAS, a unit of GE Commercial Finance, is a leading provider of fleet, financing and productivity solutions to the global aviation industry. With long-standing customer relationships with more than 200 airlines in some 60 countries, GECAS has a fleet of some 1,200 owned aircraft and manages nearly 300 for others. GECAS offers a full range of aircraft fleet and financing solutions, including operating leases, finance leases and secured debt financing; engine leasing through its Engine Leasing unit and pilot training through its Aviation Training unit. GECAS is headquartered in Stamford, Conn., and has regional offices in 16 locations worldwide.

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