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GECAS To Lease Three Airbus A330-200s To Qatar Airways

STAMFORD, CONN : GE Capital Aviation Services (GECAS) today announced it will lease three Airbus A330-200 aircraft to Qatar Airways. Terms of the agreement were not disclosed.

The first two aircraft enter service at Qatar Airways in January and February 2004. The third is a new aircraft scheduled for delivery in June 2005.

"We are very pleased to extend our relationship with one of the leading carriers in the Middle East, Qatar Airways," said Norman C.T. Liu, executive vice president, commercial operations for GECAS.

Qatar Airways already leases an A320 from GECAS and will take delivery of two new A330-200 aircraft on lease from GECAS in the summer of 2004.

Qatar Airways is one of the fastest growing airlines in the world currently flying to 48 destinations worldwide. Within the coming two years, the number of destinations served by Qatar Airways is projected to rise to 60.

The airline presently operates 29 Airbus aircraft and is one of the launch customers of the A380 'super jumbo'. The airline recently signed a US$ 5.1 billion order for 34 additional Airbus aircraft in a deal that will increase the fleet to 52 by 2008.

GE Capital Aviation Services (GECAS), a unit of GE Commercial Finance, is a leading provider of fleet, financing and productivity solutions to the global aviation industry. With three decades of expertise and long-standing customer relationships with more than 200 airlines in some 60 countries, GECAS has a fleet of some 1,200 owned aircraft and manages nearly 300 for others. GECAS offers a full range of aircraft fleet and financing solutions, including operating leases, finance leases and secured debt financing; engine leasing through GE Engine Leasing; pilot training through GE Capital Aviation Training; and productivity services through its affiliate network.

GECAS is headquartered in Stamford, Conn., and has regional offices in New York, Chicago, Miami, Beijing, Hong Kong, Singapore, Tokyo, Dubai, Vienna, Toulouse, Luxembourg and Shannon, Ireland. www.gecas.com

Qatar Airways presently has a fleet of 29 Airbus aircraft that includes: five A330s, 12 A320s, nine A300s, one A300 cargo freighter, and two A319 Corporate Jetliners.

Three leased A320s will be retired from the Qatar Airways fleet during 2004.

Qatar Airways Corporate Communications
Tel: +974 4496956, Fax: +974 4620132
E-mail: qrmedia@qatarairways.com.qa

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