Published on March 8th, 2021 | by Alan Dwyer0
Reports of a Possible Merger Between GECAS and AerCap
Reports from some news outlets in the United States that a merger between two of the world’s biggest aircraft leasing companies is imminent. The deal between General Electric Capital Aviation Services (GECAS) and AerCap would value a merger at about $30billion. The Wall Street Journal originally broke the story with an official announcement expected in the coming days. Both companies are listed on the New York Stock Exchange where a deal would be announced.
AerCap’s portfolio comprised 1,044 owned and managed aircraft as of 31 December 2020, with 286 orders. GECAS has a portfolio of over 1600 aircraft. With nearly 3,000 aircraft between the two companies, this would dwarf the third biggest leasing company, Avolon who have around 850 aircraft on their books. Both AerCap and GECAS have around 200 airline customers each spread across the world. They both have extensive deals with Airbus, Boeing and Embraer for aircraft and engines from all the major manufacturors. GECAS also has a Boeing 737-800 conversion program and is in the process of developing its Boeing 777-300ERSF conversion program. GECAS also owns Milestone Aviation which has helicopters on lease in the off-shore oil and gas industries along with HEMS, search and rescue, police surveillance