GECAS SIGNS COMPONENT MANAGEMENT AGREEMENT WITH AIRASIA

26 February 2007

SINGAPORE, 26 February 2007 - GE Commercial Aviation Services (GECAS) today announced it has signed an agreement with AirAsia Berhad to finance and manage the airline's spare parts inventory for its fleet of 34 Boeing 737-300 aircraft. Terms of the transaction were not disclosed.

The GECAS Aircraft Component Management service helps airlines manage their parts inventory more efficiently, lowering the carrying costs of inventory and improving overall spare parts availability. The service is designed to help airlines have the right part at the right place at the right time while minimizing costly delays associated with part shortages.

"As we go through a transition to our new fleet of Airbus A320s it will be helpful to have GECAS taking on the ownership and management of our B737 inventory to facilitate in the fleet rollover program" said Tony Fernandes, Group CEO of AirAsia. "The GECAS solution - purchasing our inventory and then optimizing our allocation of parts across our six hubs -- is ideal, as it helps us achieve even lower costs and greater efficiency, freeing up internal resources to focus on our maintenance activity and expanding operations."

AirAsia is one of the world's leading low-cost carriers, serving passengers in four hub locations in Malaysia as well as bases in Bangkok, Thailand and Jakarta, Indonesia. AirAsia currently operates 34 Boeing 737-300 aircraft on routes in Southeast Asia. The airline leases nine of the 737 aircraft from GECAS.

GE Commercial Aviation Services (GECAS) is the commercial aircraft financing and leasing business of GE and part of GE Infrastructure. GECAS has a fleet of more than 1,400 owned aircraft it leases to more than 230 airlines in some 70 countries, and it manages nearly 300 aircraft for others. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also offers productivity solutions including spare engine leasing, spare parts financing and management and pilot training. GECAS has offices in 23 cities around the world.

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