GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric [NYSE: GE] and European turboprop manufacturer ATR, today announced a new order for 15 ATR 72-600s, plus 15 options. The deal is valued at approximately US$680 million at list prices, including options. This is a first-time ATR order for GECAS.

“The ATR 72s have a wide operating base and fills out our fleet offering at GECAS” Norman Liu, President and Chief Executive Officer of GECAS, said. There is good demand in the emerging markets and a strong replacement need as well.”

Filippo Bagnato, Chief Executive Officer of ATR, declared: “We are proud to associate such a prestigious brand as GECAS to the ATR family. This deal underlines the increasing interest of leasing companies for ATR aircraft, as they eye the success of our aircraft and, particularly, the increasing business opportunities they provide. ATRs feature low operating cost profile and high level of reliability and value retention. In the last three years, the number of ATRs in operation that belongs to leasing companies has doubled”.

The ATR 72-600 will join GECAS’ current portfolio, which includes narrow body, wide body and regional aircraft. ATR’s new ‘600-series’ will offer airline operators improvements in performance and passenger comfort, including the new Armonia cabin developed by Italian designer Giugiaro. They also feature technology enhancements such as a new avionics suite, while offering a very high standard of commonality with ATR’s current products.

EADS press release