Myanma Airways has agreed to lease 10 new Boeing 737 aircraft.
The deal with US aircraft leasing company GECAS was announced at the Singapore Airshow, and will see the Yangon-based airline receive six Boeing 737-800s, to be delivered from June 2015 onwards, and four new B737 MAX-8s, which will arrive later in the decade. All 10 aircraft are expected to be in operation with Myanma Airways by 2020.
“We are delighted to work with GE Capital Aviation Services (GECAS) to develop and upgrade our airline fleet and expand routes into key markets in the region,” said Captain Than Tun, Myanma Airways’ managing director.
“Our collaboration with a leading multinational US company like GE will benefit the airline and the economy of Myanmar.”
Established in 1948, Myanma Airways is owned by the Myanmar government. It currently operates a number of different aircraft type, including ATR 72s, ATR 42s, Embraer E190s and Xian MA-60s. And as well as adding its first Boeing jets, this week’s deal could lead to further cooperation with GECAS in the future.
In addition to the leasing arrangement, the two companies have agreed to work together to develop a strategic growth plan, focusing on Myanma Airways’ route and network development.
Norman Liu, president & CEO of GECAS, called the deal “an important milestone for the airline and for the development of Myanmar’s aviation industry”.
Myanma Airways currently operates a network of domestic routes, along with services to the Indian city of Gaya.