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(Reuters) - The world’s two largest aircraft leasing companies are combining to create a new financing giant after Ireland’s AerCap finalised a deal worth more than $30 billion to buy the leasing business of General Electric.
The two companies, which tied the knot on Wednesday after days of speculation surrounding a takeover of GE’s leasing arm GECAS, together control more than 2,000 jets, dwarfing rivals.
The tie-up creates easily the largest buyer of jetliners built by planemakers Airbus AIR.PA and Boeing BA.N and will reshape a global air finance industry that has attracted a flood of capital in recent years as investors look for higher returns.
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AerCap to buy GE s aircraft leasing unit in US$30 billion deal
FILE PHOTO: Aengus Kelly, CEO of AerCap, speaks during a panel discussion at the 2015 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Miami Beach, Florida, June 8, 2015. REUTERS/Joe Skipper/File Photo 3 related media assets (image or videos) available. Click to see the gallery.
10 Mar 2021 07:45PM (Updated:
11 Mar 2021 02:30AM) Share this content
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REUTERS: The world s two largest aircraft leasing companies are combining to create a new financing giant after Ireland s AerCap finalised a deal worth more than US$30 billion to buy the leasing business of General Electric.
The transaction, which simplifies GE and focuses it on its industrial core power, renewable energy, aviation, and health care – is the latest in a series of divestitures Chief Executive Officer Larry Culp has undertaken
The world's two largest aircraft leasing companies are combining to create a new financing giant after Ireland's AerCap finalised a deal worth more than $30 billion to buy the leasing unit of General Electric.
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