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AEROVATE 2019: GECAS launches new aviation innovation competition

Shannon, 28th August 2019: GECAS, a world-leading aviation lessor and financier, is looking for the next generation of aviation innovators in an exciting new competition, Aerovate 2019.

Aerovate challenges third-level university students in Ireland to foster ideas that will revolutionize the world of aviation, and that have the potential to develop into a real-life business opportunity.

The winner or winning team will receive €5,000, as well as the possibility of further developing their idea through an internship with GECAS. There will also be two runners-up prizes of €1,000, on offer.

Speaking at the launch, Cronan Enright, Chief Marketing Officer, GECAS said, “The aviation industry is synonymous with change and development. It’s hard to predict what it will look like in ten years’ time or envisage the innovations to come. However, just as the first aviation pioneers did, we must also continue to look to the future and nurture this culture of innovation."

“Therefore, we are looking for people to think outside of the box and would encourage all ideas that are original and creative, and most importantly, propel the aviation industry into the future.” The competition is open to individuals and groups of up to four people. To enter, students must submit their ideas through a written proposal of up to 1,000 words, as well as a maximum three-minute video where they explain their idea. The top five entries will then be invited to present their idea to an expert panel of judges at the GECAS Shannon offices in October. The closing date for entries is midnight, Friday 27th September. For more information and to submit an entry, please visit https://www.gecas.aero/vate/

About GECAS

GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and financier. For over five decades, we have solved our customers’ challenges and helped their businesses to thrive. Whether your need is for narrow- or widebody aircraft, regional jets, turboprops, freighters, engines, helicopters, financing or materials, our name has become synonymous with trusted relationships, domain expertise and delivering on our promises.

GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, secured debt financing, asset sales and servicing, and airframe parts management. GECAS owns, services or has on order more than 1,850 (~1,500 fixed wing/ ~350 rotary wing), plus provides loans collateralized on an additional ~320 aircraft. GECAS serves ~250 customers in over 75 countries from a network of 22 offices around the world.