GE Capital estimates a pre-tax exposure of $300-$550 million for megalessor GECAS owing to the anticipated traffic downturn in 2009. In an investor presentation this week, GE Capital estimated that a 1%-2% decline in global airline traffic would result in the smaller exposure, while the "downside case" assumes a 3% decline in RPKs and the liquidation of two airlines, resulting in the higher figure. GECAS represents 7% of GE Capital's assets. Its aircraft portfolio is worth $47 billion and it ...

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