GE close to deal with AerCap to create massive leasing company

Many financial outlets like Bloomberg are reporting that GE is close to seal a deal with AerCap which would see the sale of GECAS to AerCap. If the deal is finalized, it would create the world's largest aircraft leasing company. Currently, AerCap has an owned, managed and order portfolio of 1,044 aircraft, while GECAS entails almost 1,650 aircraft.

The sale of GECAS is part of GE's streamlining operation that aims to focus on the company's core industrial areas like aircraft engine manufacturing. Last year, for instance, GE also sold its pharmaceutical business. The streamlining of GE was initiated to reduce the company's large debt as well to insure a better financial position.

AerCap was founded in 1995 and has its headquarters at Dublin. The lessor became one of the major players in the aviation leasing industry when it acquired ILFC in 2013 pusing it to the number two position behind GECAS.

Photo by AerCap.