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CHINA NORTHWEST AIRLINES TO LEASE A300-600R AIRCRAFT WITH GE ENGINES FROM POLARIS

 CHINA NORTHWEST AIRLINES TO LEASE A300-600R AIRCRAFT
 WITH GE ENGINES FROM POLARIS
 SAN FRANCISCO, Sept. 22 /PRNewswire/ -- Polaris Aircraft Leasing Corp., a subsidiary of GE Capital Corp. and GE Aircraft Engines, another of the 13 key businesses of the General Electric Co. (NYSE: GE), today jointly announced an agreement reached on Aug. 26 for the seven-year lease to China Northwest Airlines of two A300-600R aircraft equipped with GE CF6-80C2A5 engines.
 The first plane will be delivered Sept. 30, 1992, with the second due to be delivered Oct. 15.
 According to Polaris president Herb Depp, the lease transaction includes an innovative 12-month maintenance support package which was arranged by Polaris. Elements of the maintenance package consist of on-site technical personnel, pilot training, basic maintenance checks at Air France's facility and spare parts provisioning and overhaul.
 "The package we were able to negotiate on behalf of China Northwest demonstrates how important our comprehensive airline/aircraft expertise has become to our customers," said Depp. "This complete support package -- financed and designed to meet all their operating needs -- will allow China Northwest to operate the aircraft immediately. That's a major financial benefit which we are providing worldwide."
 China Northwest is the fourth Polaris customer in China, and, according to Depp, the second airline in the People's Republic of China to select GE's CF6-80C2 engine.
 "We think our recent success in China can be credited to our regional office, which, coupled with GE Aircraft Engines' enormous international presence, brings us much closer to the customer," Depp said.
 Feng Dayu, president of China Northwest, said, "One of the most important factors in selecting the aircraft and the leasing company |Polaris~ was the overall cost-effectiveness of the aircraft. Obviously, GE engines were an important element, as was the maintenance package. We're delighted with all aspects of the transaction."
 Ed Bavaria, vice president and general manager of GE Aircraft Engines' Airlines Marketing Division, said, "We consider this a breakthrough opportunity for our company, and an example of how effective we can be when working with Polaris. We think we have opened the doors to further business opportunities in the People's Republic of China."
 China Northwest Airlines provides scheduled and charter passenger, cargo and mail service on 60 domestic routes connecting more than 50 Chinese cities, as well as a growing number of international routes.
 A wholly owned subsidiary of GE Capital Corp., Polaris is one of the largest and most experienced aircraft leasing companies in the world. Polaris owns, manages or has financed a commercial jet portfolio of more than 500 aircraft. Polaris aircraft, management and technical services are utilized by over 60 airlines worldwide.
 GE Capital, headquartered in Stamford, Conn., a wholly owned subsidiary of General Electric Co., is a diversified financial services company with assets exceeding $80 billion. GE Capital's financing activities include equipment management, equipment financing, corporate financing, customer/retail financial services, commercial real estate financing and specialty insurance. GE is a diversified manufacturing, technology and services company with operations worldwide.
 GE Aircraft Engines is the world leader in the manufacture of jet engines for commercial, military and regional/commuter aircraft, as well as aeroderivative engines for marine and industrial applications. GE Aircraft Engines sales during 1991 totaled $7.7 billion, and sales of engines produced by CFM International, a 50/50 joint company of SNECMA of France and General Electric, accounted for an additional $3.1 billion.
 -0- 9/22/92
 /CONTACT: Jennifer L. Wolff of Polaris, 415-445-7427; or Dwight E. Weber or David A. Lane of GE Aircraft Engines, 513-243-6136/
 (GE) CO: Polaris Aircraft Leasing Corp.; GE Aircraft Engines;
 China Northwest Airlines ST: California, Ohio IN: AIR SU: JVN


GT-TM -- SF010 -- 2432 09/22/92 19:35 EDT
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Date:Sep 22, 1992
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