GECAS to Lease 12 Next-Generation Boeing 737-700s to SkyEurope

10 May 2005

Bratislava, May 10, 2005 – SkyEurope Airlines, Central Europe’s first low-cost low-fare airline, today announced it will lease 12 new Boeing 737-700 series aircraft from GE Commercial Aviation Services' (GECAS) operations in Shannon, Ireland. The aircraft will be delivered in 2006 and 2007.

Six of the aircraft come from the existing GECAS order book. GECAS ordered six additional Boeing 737-700 aircraft for lease to SkyEurope.

SkyEurope’s first new 737-700s will enter the fleet in February 2006. The aircraft will be powered by CFM56-7B engines produced by CFMI and equipped with fuel-saving winglets supplied by Aviation Partners Boeing (APB). The cabin will be configured with 149 leather seats.

“After an intensive competition and detailed analysis, an attractive proposal from Boeing and our own experience operating the 737, we concluded the Next-Generation 737 is the best airplane to take us along our demanding growth plan,” said Christian Mandl, SkyEurope CEO and co-founder.

Boeing forecasts that Central European countries will require about 570 new airplanes worth about US$ 30.6 billion during the next 20 years. Single-aisle airplanes in the 100- to 150-seat market, such as the 737, will account for 72 percent. Nine percent will be twin-aisle airplanes, with the remainder being regional jets.

“We are thrilled to expand our relationship with SkyEurope by leasing next-generation Boeing 737s to a low-cost carrier in the fast growing Central European region,” said Declan Hartnett, senior vice president and region manager, Europe for GECAS.

GE Commercial Aviation Services (GECAS), a unit of GE Commercial Finance, is the commercial aircraft financing and leasing business of General Electric Co. With long-standing customer relationships with more than 200 airlines in some 60 countries, GECAS has a fleet of more than 1,300 owned aircraft and offers a full range of aircraft fleet and financing solutions, including operating leases and secured debt financing; engine leasing through its Engine Leasing unit and pilot training through its Aviation Training unit. Worldwide, GECAS has offices in 21 cities worldwide.

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