GE approaches agreement to combine aircraft leasing unit with AerCap: WSJ


FILE PHOTO: A General Electric aircraft used to test jet engines is displayed at Victorville Airport in Victorville, California, USA, March 26, 2019. REUTERS / Mike Blake

(Reuters) – General Electric Co is approaching a more than $ 30 billion deal to combine its aircraft leasing business with Ireland’s AerCap Holdings NV, the Wall Street Journal reported Sunday, citing people familiar with the matter.

Details of how the deal would be structured were not immediately known, but an announcement is expected on Monday, assuming the talks do not fail, the WSJ said.

The unit, known as GE Capital Aviation Services, or GECAS, is one of the world’s largest aircraft leasing companies, leasing passenger jets made by companies such as Boeing Co and Airbus SE. It owns, services or has orders about 1,650 aircraft, according to its website.

GE said the company does not comment on rumors or speculation, while AerCap did not immediately respond to Reuters’ request for comment.

Report of Bhargav Acharya in Bengaluru; edit by Diane Craft

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