(Corrects date of aircraft delivery in 4th paragraph to 2020,
SINGAPORE Feb 11 Myanma Airways has agreed to
lease 10 new Boeing 737 jets from GE Capital Aviation
Services (GECAS), the world's biggest leasing company, in what
appears to be the largest single fleet expansion in Myanmar.
State-run Myanma will work with GECAS to develop and upgrade
its airline fleet and expand routes into key markets in the
region, officials from Myanma Airways told a news conference on
Tuesday as the Singapore Airshow kicks off.
Myanma currently flies only on local routes. Officials from
Myanmar's government and Boeing were also present at the signing
ceremony on Tuesday.
GECAS said the deal had a list price of $960 million and the
aircraft will be delivered through 2020. Leasing companies rent
aircraft to airlines in exchange for a monthly fee.
After years of isolation, Myanmar is seen as one of the last
frontiers for aviation in Asia, with passenger numbers surging
as new airlines spring up and foreign carriers rush in.
(Reporting by Anshuman Daga; Editing by Ed Davies)