Myanmar carrier leases 10 Boeing planes worth $1.2b
Published on Feb 11, 2014 9:24 AM
SINGAPORE (AFP) - Myanmar's national carrier on Tuesday signed a contract with US firm GE Capital to lease 10 Boeing aircraft worth nearly a billion dollars in a major makeover for the largely domestic airline.
US ambassador to Myanmar Derek Mitchell described the agreement as the "largest commercial sale" by a US company to Myanmar in decades.
Under the agreement, state-owned Myanma Airways will lease 10 new Boeing 737 planes from GE Capital Aviation Services (GECAS), the commercial leasing and financing arm of US giant General Electric.
Delivery of the planes is scheduled to begin in June 2015.
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