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GATX AIR LEASES $315 MILLION OF AIRCRAFT TO SIX FOREIGN CARRIERS

 GATX AIR LEASES $315 MILLION OF AIRCRAFT TO SIX FOREIGN CARRIERS
 SAN FRANCISCO, June 16 /PRNewswire/ -- GATX Air, a division of GATX Capital Corp., has leased $315 million of aircraft, including an MD-11, three A320s, one A310-300, and one B747-200 to six foreign carriers. "With global air traffic continuing its long term rise, GATX Air has positioned its aircraft leasing expertise to meet the needs of air carriers worldwide whose capital requirements make operating leasing a viable option," stated Frederick L. Hatton, president, GATX Air.
 "We anticipated a decline in older aircraft values when we ordered new aircraft in recent years to target those carriers who demand modern equipment to meet their growth needs as more of the world's citizens achieve the economic ability to travel."
 GATX Air recently leased an MD-11, valued at $100 million, to China Airlines scheduled for delivery by the end of July. The McDonnell Douglas aircraft is the first MD-11 to join China Airlines' fleet. The airline serves destinations throughout Asia, the United States and Europe.
 GATX Air has contracted with Air Malta for a $40 million A320 to operate primarily between the United Kingdom and Malta. Air Malta accepted delivery of the twin-engine extended range aircraft in late April.
 Onur Air, a new Turkish airline, has contracted with GATX Air for two A320s valued at over $80 million. These two aircraft are the first A320s to be operated by a Turkish airline. The first A320 was delivered in May and the second is scheduled for delivery in July.
 JES Air, a Bulgarian airline, has leased an A310-300ER, valued at $65 million, from GATX/CL Air, to add to its A310 fleet. The airplane was delivered at the beginning of June. Following JES Air's short term lease, Region Air, a new Singapore-based airline, will lease the A310 from October 1992.
 In addition, Nationair, a Canadian charter airline, has leased a B747-230B valued at $30 million, serving destinations in Canada and the United States.
 Hatton added that earlier this year, GATX Air leased two 757s to Air 2000, a UK-charter airline serving destinations in Spain, Turkey and Africa's east coast.
 GATX Air, a division of GATX Capital Corp., owns leases and provides financing for approximately 100 commercial jet aircraft of Boeing, McDonnell Douglas and Airbus manufacture.
 GATX Capital, a leader in the field of capital equipment leasing and financing, is a major lessor of commercial jet aircraft, rail and marine equipment. GATX Capital is a subsidiary of GATX Corporation, a leading operating leasing company founded in 1898, with total assets of $3.5 billion.
 -0- 6/16/92
 /CONTACT: Holly Rea of GATX, 312-621-6493/
 (GMT) CO: GATX Air; GATX Capital Corp. ST: California IN: AIR SU:


PS -- NY039 -- 0636 06/16/92 11:35 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
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