POLAR TO LEASE B747-400 FREIGHTERS FROM GE
Polar Air Cargo, the U.S. freighter operator owned by GE Capital
Aviation Services, will lease five B747-400 freighters from its parent
company to modernize its fleet.
Polar will receive the first three B747-400s, which can carry up to 120
metric tons of cargo, in the fourth quarter next year. The two others will be delivered in
2001 and 2002. Boeing announced this week that GE Capital had ordered five new B747-400
freighters.
Polar, which operates a fleet of five B747-200 freighters and nine
B747-100 freighters, needs to retire the older 100s, which comply with
modern engine noise standards only when carrying less than a full-payload.
Industry officials were concerned earlier this year that Polar would be
forced out of business by weak Asian traffic flows and its reliance on
older planes. The 400s signal a turnaround for the airline.