Very big transactions
Aercap, a global leader in aircraft leasing headquartered in Dublin, is to acquire its competitor GE Capital Aviation Services (Gecas). GE will receive 111.5 million newly issued Aercap shares, USD 24 billion of cash and USD 1 billion of Aercap notes and/or cash.
Upon completion of the transaction, GE is expected to own approximately 46% of the combined company which will be a leader across all areas of aviation leasing (2,000+ owned and managed aircraft, 900+ owned and managed engines and 300 customers).
Meanwhile, Amazon has scooped up a minority stake in Air Transport Services Group, a USA-based cargo carrier that operates a portion of its growing air-cargo division. The e-commerce giant spent USD 131 million to acquire about 13.5 million shares of ATSC, which represents about 19.5% of the airline. (ah)