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Irish Aercap nears deal to buy GE’s aircraft-leasing unit

An announcement is expected Monday, assuming the talks do not fall apart. Photo: PA Images.

General Electric Co is nearing a $30 billion-plus (€25 billion) deal to combine its aircraft-leasing business with Ireland’s AerCap Holdings NV.

The Wall Street Journal reported the news 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 do not fall apart, the WSJ said.

The unit, known as GE Capital Aviation Services, or GECAS, is one of the world’s biggest jet-leasing companies and leases passenger aircraft made by companies including Boeing Co and Airbus SE.

It owns, services or has on order about 1,650 aircraft, according to its website.

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

Source:

www.breakingnews.ie

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