AerCap and GE announce landmark deal

AerCap has confirmed that it has entered into a definitive agreement with General Electric to acquire 100% of GE Capital Aviation Services (GECAS) for a total value of approximately $30bn. Under the terms of deal, AerCap will acquire $34bn of GECAS net assets, which includes its aircraft fleet and platform, engine leasing business and Milestone helicopter leasing company. AerCap will also take over GECAS’ orderbook and more than 400 GECAS employees upon completion of the transaction, which is expected to be in the fourth quarter of 2021. AerCap will pay GE $24bn in cash, $1bn in AerCap notes and/or cash