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AerCap to acquire US lessor GECAS

The world’s largest aircraft leasing company has agreed to purchase 100% of its rival as the aviation industry continues to struggle due to the pandemic ....

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IoT | Benzinga

The five months in which Covid-19 has spread throughout America have led to more job loss than any point in American history. And though the labor market has shown signs of recovery, there remains no clear end to job losses in sight.
The gloomy economic outlook for the foreseeable future is forcing. Read More. ....

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GE sells jet-leasing unit to AerCap for USD30B » Borneo Bulletin Online

March 12, 2021
NEW YORK (AFP) – General Electric (GE) announced a deal on Wednesday to sell its aircraft leasing business to AerCap for USD30 billion, establishing a new industry giant amid the pandemic-induced downturn in air travel.
Under the transaction, the GE unit will be integrated into the Irish company. GE will have a 46-per-cent stake in the new entity and will nominate two members to AerCap’s board, the announcement said.
The combined company will have more than 2,000 owned and managed aircraft, more than 300 helicopters and more than 300 customers around the world, AerCap said.
The airline industry remains in a deep downturn due to the coronavirus pandemic, although progress on vaccination campaigns is expected to lead to a gradual rebound. ....

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$73 million package puts CEO Culp's pay at 1,357 times median GE employee

Mar. 12—BOSTON — General Electric's CEO had a good year in 2020, as the world economy and GE itself had some ups and downs. Lawrence Culp Jr. voluntarily forfeited most of his $2.5 million annual salary, instead taking home $653,409, and also forfeited his bonus, according to a proxy statement issued Thursday ahead of the May stockholder meeting. However, he landed $72,054,874 in stock awards . ....

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AerCap to buy GE's aircraft leasing unit for $30bn

AerCap to buy GE's aircraft leasing unit for $30bn
tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.

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