What a merger between Gecas and AerCap could mean?
An AerCap – GECAS merger (or acquisition) means that the next biggest lessor will be less than one third their size.
Who bought gecas?
AerCap
General Electric has reached an agreement to sell its Gecas leasing division to AerCap in a $30 billion deal that stands to profoundly change the competitive balance of the global aircraft leasing business, the companies confirmed Wednesday.
Is GE merging?
GE to merge aircraft leasing unit with rival AerCap in a $30 billion deal as industry faces more pandemic turmoil. The deal comes as the aviation industry struggles through the Covid pandemic. GE will no longer break out results for GE Capital once the deal closes.
How many planes does AerCap own?
As of June 2020, AerCap had 1,035 owned, managed aircraft in its portfolio.
Is there a merger between GECAS and AerCap?
In addition, US-based GECAS has 253 aircraft on order, while AerCap has 286. On 7 March, The Wall Street Journal reported that GECAS’s parent General Electric was nearing a $30 billion deal to combine GECAS with AerCap.
What’s the value of GE’s investment in AerCap?
GE is optimistic that the AerCap shares it receives will rise in value over the next few years as the global aviation industry recovers from the pandemic (and as AerCap wrings out merger synergies). AerCap Price to Book Value, data by YCharts.
What was the net loss for AerCap in 2019?
AerCap posted a net loss of nearly $299 million last year from a profit of more than $1.1 billion in 2019, through it had a profit of $28.5 million in the fourth quarter.
What happens to General Electric’s debt after AerCap deal?
General Electric will use the AerCap deal proceeds and excess cash to pay down about $30 billion of debt this year. Despite that debt reduction, GE’s credit metrics could weaken modestly in the near term because GE Capital’s debt will no longer be treated separately from the rest of the company’s borrowings.
