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AerCap confirms talks with GE for aircraft leasing business


March 9, 2021
By The Associated Press

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NEW YORK — Ireland’s AerCap Holdings confirmed that it is in talks to buy General Electric’s aircraft leasing business as the former industrial conglomerate continues to divest from the non-core businesses that nearly sank it during the 2008 financial crisis.

The filing by AerCap with the Securities and Exchange Commission said that no agreement is guaranteed and that it would make no further comment until the talks were completed.

GE’s Capital Aviation Services and AerCap are two of the biggest aircraft leasers in the world with more than 2,500 aircraft between them. The companies both lease commercial aircraft to hundreds of airlines around the world.

GE has been steadily shedding businesses for years as it focuses more on building industrial machines like aircraft engines and medical imaging equipment and selling big, complex products like power generators and oil and gas equipment.

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It spun off its consumer credit card business, sold NBC Universal to Comcast Corp. and got out of the insurance business.

News from © Canadian Press Enterprises Inc., 2021