SHANNON, Ireland, June 17, 2008 (PRIME NEWSWIRE) -- Genesis Lease Limited (NYSE:GLS) today announced that it has secured long-term bank debt from KfW IPEX-Bank in Germany to finance an Airbus A320-200 aircraft leased to Deccan Aviation Limited ('Deccan') of Bangalore, India until 2019.
Alan Jenkins, chief financial officer of Genesis Lease, said, "The financing of this popular, latest generation, fuel efficient aircraft on a long-term basis at attractive pricing is significant because it demonstrates both the continuing availability of such financing and our ability to secure attractive financing in today's market."
About Genesis Lease Limited
Genesis Lease Limited is a global commercial aircraft leasing company that is headquartered in Shannon, Ireland. Genesis acquires and leases modern, operationally efficient passenger and cargo jet aircraft to a diverse group of airlines throughout the world. Genesis leverages the worldwide platform of GE Commercial Aviation Services Limited, or GECAS, to service its portfolio of leases.
Genesis's common shares, in the form of American Depositary Shares, are listed on the New York Stock Exchange under the symbol "GLS."
The Genesis Lease Limited logo is available athttp://www.primenewswire.com/newsroom/prs/?pkgid=4842
About KfW IPEX-Bank
Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate finance in Germany and abroad and also offers trade and export finance. Worldwide it conducts all market activities of KfW Bankengruppe that are done on commercial terms. In the year 2007 KfW IPEX-Bank made new commitments for a total of EUR 16.1 billion.
Caution Concerning Forward-Looking Statements
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to our plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts as well as statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," or words of similar meaning. These statements are based on current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.