GE to merge aircraft leasing unit with rival AerCap in a $30 billion deal as industry faces more pandemic turmoil
Publishing timestamp: 2021-03-10 11:30:11
Summary
General Electric will sell its jet leasing business to AerCap in a $30 billion deal, creating a massive lessor as the aviation industry struggles through the Covid-19 pandemic. The deal will reduce GE's debt load and GE Capital will no longer be broken out as a separate unit in financial reports. The combination of the two companies will create the world's largest aircraft lessor, giving them negotiating power with aircraft manufacturers.
Sentiment: MIXED
Keywords: trade, general electric co, airlines, business news, aerospace and defense industry, boeing co, transportation, life, breaking news: business, aercap holdings nv, larry culp, markets, business, travel,
Source: https://www.cnbc.com/2021/03/10/general-electric-aercap-aircraft-leasing-merger.html