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Airlines

Name: GATX CAPITAL CORPORATION
7JetSet7 Code: GAX
Status: Currently Not Operational
Region: NORTH AMERICA
City: SAN FRANCISCO
Country: USA
Employees 7
Web: gatxcap.com
Email:
Telephone: +1 (415) 955-3200
Fax: +1 (415) 955-3424
Sita:
Background
(definitions)

Click below for data links:
GAX-LSG04
GAX-2005-TOP50-LSG-A
GAX-2005-TOP50-LSG-B

FORMED IN 1968. A JET AIRPLANE LEASING COMPANY. SEE ALSO GATX/AIRLOG COMPANY (NGK).

ADDRESS:
FOUR EMBARCADERO CENTRE, SUITE 2200
SAN FRANCISCO, CALIFORNIA CA 94111, USA

JANUARY 1996: $580 MILLION, 9 ORDERS (APRIL 1997) A321-200'S (CFM56-5B).

AUGUST 1996: $1.2 BILLION ORDERS/OPTIONS 23 737-800'S & 757'S. 10/10 (LATE 1998) 737-800'S, & 1/2 (APRIL 1997) 757 (RRC) TO (FCL).

APRIL 1997: 1ST QUARTER = +$31.2 MILLION (+$24.7 MILLION) (NET PROFIT).

OCTOBER 1997: 3RD QUARTER = +$28 MILLION (+$33.4 MILLION). 1ST 9 MONTHS = +$89.4 MILLION (+$83.8 MILLION).

JANUARY 1998: 1997 = -$50 MILLION (+$102.7 MILLION). 4TH QUARTER = -$140 MILLION (+$18.9 MILLION).

APRIL 1998: 1ST QUARTER = +$37.4 MILLION (+$31.2 MILLION) RECORD!

SEPTEMBER 1998: FARNBOROUGH ANNOUNCEMENT OF $400 MILLION, BOEING (TBC) ORDERS: 5 737-800'S (2001), NOW 15 ORDERS 737-NG'S.

OCTOBER 1998: JESSE CREWS, PRESIDENT & CEO.

NOVEMBER 1998: 2 ORDERS (JANUARY 1999) 737-800'S (28822; 28826) GATX LEASED TO NOVAIR (NOO).

DECEMBER 1998: JOINT VENTURE WITH ROLLS ROYCE (RRC) FOR ENGINE LEASING. (NGK) WILL HAVE A 50% STAKE IN (RR) & PARTNERS FINANCE (RRPF) UNIT, ONE OF THE LARGEST ENGINE LEASING COMPANIES, WITH A PORTFOLIO OF 90 ENGINES. ALAN COE, EXECUTIVE VP, (GAX), SAID THIS WOULD CAPITALIZE ON (GAX)'S KNOWLEDGE OF OPERATING AND FINANCE LEASING, WHERE (GAX) HAS AN INTEREST IN 200 AIRPLANES.

SEPTEMBER 1999: (GAX) WITH ITS SAIRGROUP (SWS) LEASING PARTNER, FLIGHTLEASE (HANS-JORG HUNZIKER, PRESIDENT) MAKES $1.62 BILLION ORDER: 12 A318'S, 10 A320'S, 10 A321'S, & 6 A330-200'S FOR (SWS) AND ITS QUALIFLYER PARTNERS.

NOVEMBER 1999: 2 737-430'S (27003, D-ABKD; 27007, D-ABKL), 3 YEAR LEASED TO LUFTHANSA (DLH).

DECEMBER 1999: FORMS 3RD "INVESTMENT PARTNERSHIP" FOR PURCHASE OF 5 737-800'S, INCLUDING HELLER FINANCIAL, ROYAL BANK OF SCOTLAND, & HALIFAX.

JANUARY 2000: 2 ORDERS 757-200'S.

JULY 2000: GATX/FLIGHTLEASE 18 ORDERS 737-NG'S. IN 2000, LEASING COMPANIES CONTRACTED FOR 21.4% (72 OF 336) BOEING ORDERS, AND 33.1% (79 OF 239) AIRBUS ORDERS.

AUGUST 2000: EMBARCADERO AIRCRAFT SECURITIZATION FUND (EAST) DELAWARE, IS BEING FORMED WITH 34 737/747/757'S, MANAGED BY (GAX); 26
ARE TO BE ACQUIRED FROM AFFILIATES OF LEHMAN BROTHERS AND 8 FROM AFFILIATES OF (GAX).

A320 (CFM56-5A1) (235), EX-AIR PORTUGAL (TAP), LEASED TO VOLARE (VLE).

DECEMBER 2000: GATX FLIGHTLEASE (FLL) 1 ORDER (FEBRUARY 2005) A320 FOR TOTAL 11, AND 1 ORDER (FEBRUARY 2004) A321 FOR TOTAL 10.

FEBRUARY 2001: GATX GROUP BUYS 50% OF PEMBROKE GROUP (PEB). ROLLS ROYCE (RR) OWNS OTHER 50%. COMBINED COMPANY PORTFOLIO >400 AIRPLANES.

OCTOBER 2001: DROPS OUT OF ITS JOINT VENTURE WITH SWISSAIR'S (SWS) FLIGHTLEASE (FLL), WHICH INCLUDED ORDER FOR 38 A320'S. AIRBUS (EDS) RELEASED (GAX) FROM ANY FURTHER OBLIGATIONS IN RESPECT TO ITS PREVIOUS 50% COMMITMENT. HOWEVER, (GAX), SIGNED A SEPARATE DEAL WITH (EDS) FOR 19 ORDERS A320's WITH DELIVERIES OVER NEXT 4 YEARS.

FEBRUARY 2002: CANCELS 12 ORDERS A318's, 1 A321, 4 A330's, 2 A340's AS PART OF JOINT FLIGHTLEASE (FLL) ORDER.

February 2004: See attached link to Leasing Survey 2004, which shows (GAX) ranked 5th of the top 40 airplane leasing companies with 1 turboprop, 4 regional jets, 173 narrow bodies and 12 wide bodies.

December 2005: GATX Corporation (GAX) will sell up to $450 million worth of older airplanes, or around 23% of its leasing portfolio, as part of a strategy to focus on "newer more profitable airplanes," the company said in a statement. As a result of the decision, it will take an after-tax non cash charge in the range of $110 to $130 million in the fourth quarter, with incremental gains or losses possibly occurring as sales are completed through the end of 2006.

March 2006: Based on an Airline Business survey of airplane leasing companies, GATX (GAX) has a fleet of 139 airplanes and is ranked 13th of the top 50 airplane leasing companies (see attached data).

October 2006: GATX Corp (GAX) announced it will sell the majority of its airplane leasing business to a consortium of investors including Macquarie Bank and investment fund Och-Ziff Capital Management Group in a transaction expected to close by year end. GATX (GAX) has been in the airplane leasing business since 1968. The value of its airplane assets, including its joint-venture investments, is approximately $1.5 billion in net book value and includes 87 airplanes. Last year, GATX (GAX) announced it would sell up to $450 million worth of older airplanes, or around 23% of its leasing portfolio, as part of a strategy to focus on "newer more profitable airplanes."

Fleet:
(definitions)

December 2013:

1 727-290 (JT8D HK) (1439-21511, /79, N775AT), EX-(ASA), LST (AAT).

2 737-33R (CFM56-3) (2899-28870, /97, PP-VPX; 2900-28871, /97, PP-VPY), EX-(WPA), LST (VAR) 1998-03.

2 737-430 (CFM56-3) (2328-27003, D-ABKD; 2367-27007, D-ABKL), LST (DLH) 1999-11.

2 737-85F (CFM56-7B) (180-28824, /99 N500GX; 188-28825, /99 N501GX), LST (SEZ).

2 737-85F (CFM56-7B) (151-28821, /98 F-GRNC; 174-28823, /99 F-GRNA), LST (ERA).

1 ORDER 737-85F (467-28827).

2 737-85F (166-28822, /99 SE-DVO; 238-28826, /99 SE-DVR), LST (NOO).

18 ORDERS 737-NG.

1 747-121 (2-19639, /70; 117-20350, /71), EX-(PAA) LONG TERM STORAGE, SAN BERNADINO, CA. 20350 PARTED 2001-05.

1 747-131 (98-20320, /71, N472EV), EX-(TWA), LST (EVR).

0 747-230F (JT9D-7) (168-20373, /72 111 20), EX-(DLH), LST (KAL), SCRAPPED.

2 757-225 (RB211-535E4) (74-22211, /85, G-OOOV; 75-22611, /85, G-OOOW), EX-(EAL), LST (ATZ) 1991-10.

1 757-25F (RB211-535E4) (752-28718, /97, G-FCLD), LST (FLN).

2 ORDERS 757-200.

1 767-216ER (CF6-80A2) (347-24973, /91, VH-RMM), EX-(LAN), LST (ANS) 1996-02.

1 767-383ER (PW4060) (274-24476, /89, LN-RCI), LST (SAS).

00 ORDERS A318, WITH FLIGHTLEASE (SWS). CANCELED 12.

1 A320-200 (CFM56-5A1) (234, EX-(TAP), 235 EX-(TAP), LST (VLE)
2000-08.

19 ORDERS A320.

0 ORDERS A320, WITH (FLL), CANCELED 11, 2001-10.

0 ORDERS A321, WITH (FLL), CANCELED 11, 2001-10.

0 ORDERS A330-200, WITH (FLL), CANCELED 10, 2001-10.

0 ORDERS A340-300, WITH (FLL), CANCELED 2, 2001-10.

Management:
(definitions)

RONALD ZECH, CHAIRMAN.

JESSE CREWS, PRESIDENT & CHIEF EXECUTIVE OFFICER (CEO) (1998-10).

GERRY ZERKEL, MANAGER AIRPLANE INFORMATION.

BRUCE HOGARTH, VP MARKETING, RESIDENT REPRESENTATIVE, BOEING.

 
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