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GE Nears Deal With AerCap to Create Behemoth Aircraft Lessor

  • Manufacturer has been shedding assets in CEO’s turnaround push
  • Leasing giants may announce agreement as soon as this week
Aviation Engine Production At GE Aviation Czech s.r.o.

Photographer: Martin Divisek/Bloomberg

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General Electric Co. is nearing an agreement to combine its jet-leasing business with Ireland’s AerCap Holdings NV, said people familiar with the matter, in a potential deal that would join the world’s two biggest aircraft financiers in a market roiled by the coronavirus pandemic.

A transaction may be announced as soon as this week, said the people, who asked not to be named discussing the matter. The deal is expected to have a value of more than $30 billion, said the Wall Street Journal, which reported the talks earlier. Shares of both companies gained.