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GULFSTREAM GATX LEASING COMPANY, LLC PLACES ORDER FOR TWO GULFSTREAM V-SPs
GATX Gulfstream Orders Eighth and Ninth Aircraft
Geneva, Switzerland, April 18, 2001 - Gulfstream GATX Leasing Company, LLC (GGLC) has placed an order for two new Gulfstream V-SP aircraft and secured options for two additional GV-SP aircraft. GGLC has now placed firm orders for a total of 10 Gulfstream aircraft with options for an additional six. Three of the aircraft have been delivered and are currently under operating lease.
The Gulfstream Lease program, a joint venture between GATX Capital Corporation and Gulfstream Aerospace Corporation, is the first and only short-term operating lease program for the Gulfstream family of long range and ultra-long range, large cabin business aircraft.
"A short-term lease, ranging from two to five years, is an ideal solution for companies seeking the benefits of a new Gulfstream without the cost and obligation of outright ownership," said Eric Hinson, senior vice president Gulfstream Financial Services Corporation. "Companies needing interim lift or a means to quickly expand a corporate aircraft fleet are finding the combination of new Gulfstream aircraft and Gulfstream GATX Leasing's flexible leasing terms an ideal solution for their airlift requirements."
The Gulfstream Lease program provides a range of leasing options, rapid access to a Gulfstream and the benefits of aircraft ownership without the capital investment. Gulfstream provides sales, marketing and aircraft maintenance services, while GATX Capital provides account management services.
"The addition of the Gulfstream V-SP to our portfolio enhances our fleet mix and provides our customers with access to the most technologically advanced business aircraft ever built," said Bruce Shipman, managing director of diversified finance, GATX Capital. "We are pleased to be able to expand our leasing program to include this remarkable new aircraft as part of our product offering."
NOTE TO EDITOR
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics, designs, develops, manufactures, and markets the world's most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,200 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®, Gulfstream Shares®, Gulfstream Financial Services®, Gulfstream Lease®, Gulfstream Pre-Owned Aircraft Sales®, Gulfstream Charter Services®, Gulfstream Management Services® and Gulfstream ServiceCare®. The company employs more than 8,300 people at eight locations. We invite you to visit our Web site at www.gulfstream.com for photos of Gulfstream aircraft and related information.
General Dynamics (NYSE: GD), headquartered in Falls Church, Va., has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems. The corporation employs approximately 46,000 people worldwide and anticipates 2001 sales of approximately $11.5 billion. More information about the company can be found at www.generaldynamics.com.
GATX Capital Corporation is a wholly-owned subsidiary of GATX Corporation (NYSE: GMT), a unique finance and leasing company combining asset knowledge and services, structuring expertise, creative partnering and risk capital. GATX Corporation provides sophisticated leasing and financial services responsive to the specialized needs of a range of businesses. In addition to offering information technology leases, GATX specializes in railcar and locomotive operating leasing, aircraft operating leasing, venture finance, and financing solutions for customers in a diversity of industrial sectors worldwide. For further information on GATX Corporation please visit www.gatx.com.
Gulfstream Aerospace Corporation, a wholly-owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world's most technologically-advanced business jet aircraft.