Major Lessors GECAS And AerCap Could Merge

Two of the world’s largest aircraft lessors could be announcing a merger later today. The news was obtained by sources close to the matter. Both AerCap and GECAS have some of the largest and most diverse portfolios of aircraft on the market, with some of the world’s largest airlines as major customers.

a source familiar with the matter notes that the potential deal could be announced today, Monday, March 8th. It’s been noted that the deal is expected to have a value of over $30 billion. The two lessors combined would have a fleet of nearly 3,000 aircraft either owned, managed, or on order.

Despite the size of the two firms, both have been hit hard by the global health crisis. While a good deal of customers were locked in to lease agreements that they chose to keep, other airlines with expiring leases chose not to renew. Instead, aircraft leases were returned. Furthermore, new lease agreements have largely dried up due to the crisis.

Neither GECAS nor AerCap has responded to Simple Flying’s request for comment at the time of publication.

On its website, GECAS states that it owns, services, or has on order approximately 1,650 aircraft. As per AerCap’s December 31st, 2020 count, that figure is 1,330 – which consists of 1,044 owned or managed and 286 on order. Thus, the total aircraft portfolio combined would be 2,980.

The reach of both firms is similar as AerCap has around 200 customers in roughly 80 countries, while GECAS serves over 200 customers across roughly 70 countries.

Source: simpleflying.com

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