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08.03.2021

GE nears deal with AerCap

GE nears deal with AerCap

The deal is expected to have a value of more than $30 billion

Stocks impacted: General Electric (GE), AerCap (AER)

General Electric is nearing an agreement to combine its jet-leasing business with AerCap. The deal is expected to have a value of more than $30 billion. Details of how the deal would be structured were not immediately known. The unit, known as GE Capital Aviation Services, is one of the world's biggest jet-leasing companies and leases passenger aircraft made by companies including Boeing Co and Airbus SE. General Electric is expected to announce $18.18 billion in sales for the current quarter. The company posted sales of $20.52 billion in the same quarter last year. In January, the conglomerate reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09. GE shares are up around 25% so far in 2021 and have gained about 150% since their May low.

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