General Electric is nearing a deal to sell its aircraft leasing business to Irish group AerCap for more than $30bn, the latest move by the US industrial group to restructure its business, said people briefed about the matter.
A deal, which would combine GE Capital Aviation Services (Gecas) with leasing company AerCap, could be announced as early as Monday, according to multiple people informed about the transaction.
The merger would mark the latest attempt by Larry Culp, GE’s chief executive, to turn round the Boston-based group since being appointed in 2018, during which time the group has undergone a leadership shake-up, dividend cuts and a US Securities and Exchange Commission accounting investigation.
Source: Financial Times
By James Fontanella-Khan and Ortenca Aliaj
