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GE nears deal to combine aircraft-leasing unit with AerCap: report
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GE Capital Aviation Services is one of the world s biggest jet-leasing companies and leases passenger aircraft made by companies including Boeing Co and Airbus SE.
(REUTERS)
. Updated: 08 Mar 2021, 07:26 AM IST Reuters
General Electric is nearing a $30 billion-plus deal to combine GE Capital Aviation Services with Ireland s AerCap Holdings
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General Electric Co is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland s AerCap Holdings NV, the Wall Street Journal reported on Sunday citing people familiar with the matter.
Details of how the deal would be structured was not immediately known, but an announcement is expected Monday, assuming the talks don t fall apart, the WSJ said.
A transaction may be announced as soon as Monday, said one of the people, who both asked not to be named discussing the matter. The deal is expected to have a value of more than $30 billion, said the Wall Street Journal, which reported the talks earlier Sunday. Between them, GE Capital Aviation Services, or Gecas, and AerCap have almost 3,000 aircraft owned, managed or on order.
A combination would speed GE Chief Executive Officer Larry Culp’s push to streamline the U.S. industrial icon after an epic corporate meltdown. While terms of the potential agreement with AerCap are unclear, a sale of Gecas could garner GE about $25 billion, Bloomberg Intelligence said in a report in 2019. Last year, GE completed the sale of its bio-pharmaceutical business to Culp’s former employer, Danaher Corp., for $21.4 billion.
FAIRFIELD (dpa-AFX) - General Electric (GE) is nearing a deal to sell its aircraft-leasing business to Irish aircraft-leasing group AerCap for more than $30 billion, the Wall Street Journal reported
Aircraft leasing is poised for its biggest shake-up in almost a decade as its top two players, AerCap Holdings and General Electric Co's GECAS, discuss a deal to forge an industry titan with more than 2,000 jets, people familiar with the matter said on Monday.