CHICAGO, June 20 /PRNewswire/ -- GATX (NYSE: GMT) Corporation announced
today that GATX Flightlease GmbH, an aircraft leasing partnership equally
owned by GATX Capital Corporation and Flightlease AG, a Swissair Group
Company, will pursue an orderly conclusion to the joint venture consistent
with Swissair Group's stated objective of focusing on its core airline
operations.
Alan Coe, executive vice president of GATX Capital, stated, "The Swissair
Group's decision to focus on its core airline operations clearly requires
change in the GATX Flightlease partnership. GATX has enjoyed a successful
partnership with Flightlease over the last three years, and we will continue
to work closely with Flightlease to address the partnership structure and any
issues regarding jointly owned and ordered aircraft."
"As has been the case for over 30 years, GATX Air will continue its
strategy of offering aircraft operating leasing and lease portfolio management
around the world. In that context, we are looking forward to continuing to
work with Swissair and Flightlease in areas that are mutually beneficial."
Mr. Coe concluded, "The opportunities in the commercial aircraft finance and
leasing market remain substantial. GATX is well positioned to use its
experience, asset knowledge, and financial structuring expertise to continue
expanding its aircraft leasing and portfolio management business."
GATX Capital is a wholly owned subsidiary of GATX Corporation (NYSE: GMT)
a specialized finance and leasing company. GATX uniquely combines asset
knowledge and services, structuring expertise, creative partnering and risk
capital to provide business solutions to customers and partners worldwide. In
addition to aircraft operating leasing, GATX specializes in railcar and
locomotive leasing, information technology leasing, venture finance and
diversified finance.
This press release includes statements which may constitute forward-
looking statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. This information may involve risks
and uncertainties that could cause actual results to differ materially from
the forward-looking statements. Although the company believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those projected.
--Tabular Follows--
Investor, corporate information and press releases may be found at
http://www.gatx.com . A variety of current financial information, historical
financial information, press releases and photographs are available at this
site. GATX press releases may be obtained by accessing PR Newswire's Company
News On-Call's automated fax service at 800-758-5804. The company
identification number for GATX is 105121.
SOURCE GATX Corporation
 back to top
Related links:
http://www.gatx.com
Company News On-Call:
http://www.prnewswire.com/comp/105121.html or fax,
800-758-5804, ext. 105121
CONTACT:
Robert C. Lyons, Director of Investor
Relations of GATX Corporation, 312-621-6633
|
