SHANNON, Ireland, September 4, 2014 — GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, announced it added a new aircraft type to its owned fleet with the completion of a purchase-and-leaseback transaction with Nok Air involving two new Bombardier Q400 NextGen turboprops.

The first aircraft delivered to Nok Air on 26 August 2014 and the second is scheduled for delivery in September.

“Airline customers like Nok Air are looking for financing to acquire modern, fuel-efficient aircraft to fit into their fleet plans,” said Antony Snelleman, senior vice president and region manager, Asia for GECAS. “Adding the Bombardier Q400 NextGen through a purchase-and-leaseback deal is a win-win for both GECAS and Nok Air and we look forward to doing more transactions like this.”

The Bombardier Q400 NextGen, also known as the DHC8-400, features updated cabins, LED lighting, larger windows, larger overhead bins, and improved landing gear. The Q400 NextGen aircraft is configured to seat 86 passengers.

Nok Air currently operates a fleet of 19 aircraft, each featuring a colorful livery resembling a bird. The airline serves more than 24 destinations. GECAS currently leases 3 Boeing 737-800 aircraft to Nok Air.