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GE prepares to get rid of Capital Aviation Services

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The US Industrial Group General Electric (GE) is about to sell its aircraft lease branch to the Irish company AerCap Holdings. Sources say the transaction could be worth over $30 billion.

GE Capital Aviation Services (GECAS) and AerCap are among the largest aircraft leasing companies in the world. It is possible that an agreement can be released on Monday. Gecas and AerCap have a joint fleet of almost 3000 aircraft from Boeing and Airbus, for example, that are in service or are placed as an order in the books.

With the sale, GE would continue to slim down the company after a series of sales of business units in recent years to reduce the debt.

AerCap, based in Dublin, could further strengthen its market position by acquiring Gecas, with a view to recovering from the coronavirus pandemic in the aviation sector. GE and AerCap did not want to comment on the takeover forecasts.




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