"In GECAS, AerCap has acquired the right business, for the right price, at the right time, as air travel continues to recover from the pandemic and demand for aircraft leasing continues to accelerate.". When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. GE Announces Chief Financial Officer Transition. Transaction HighlightsUnder the terms of the transaction agreement, General Electric received 111.5 million newly issued AerCap shares, approximately $23 billionof cash and $1 billion of AerCap notes. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements, including the impacts of, and associated responses to: the COVID-19 pandemic; our ability to consummate the proposed transaction; our ability to obtain requisite regulatory and shareholder approval and the satisfaction of other conditions to the consummation of the proposed transaction; our ability to successfully integrate GECAS' operations and employees and realize anticipated synergies and cost savings; and the potential impact of the announcement or consummation of the proposed transaction on relationships, including with employees, suppliers, customers and competitors. Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. Cravath, Swaine & Moore LLP, NautaDutilh NV and McCann Fitzgerald acted as legal advisors to AerCap. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. AerCap Holdings N.V. the global leader in aircraft leasing, announced today that it has entered into a definitive agreement with General Electric under which AerCap will acquire 100% of GE Capital Aviation Services, a GE business. Premier engine leasing business adds revenue diversification and greater ability to provide innovative solutions to our airline customers. DUBLIN, Nov. 1, 2021 /PRNewswire/ --AerCap Holdings N.V. ("AerCap") (NYSE: AER), the global leader in aircraft leasing, announced today that it has completed its acquisition of the GE Capital Aviation Services business ("GECAS") from General Electric (NYSE: GE). Explore a timeline of GE technologies that have spurred transformation across the world. (RTTNews) - AerCap Holdings N.V. (AER), an aircraft leasing company, said Monday that it completed the acquisition of the GE Capital Aviation Services business from General Electric (GE), a . Citi and Goldman Sachs have provided AerCap with $24 billion of committed financing for the transaction. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The transaction will enhance many of AerCap's key credit metrics, as the combined company will have stronger cash flows and a more diversified revenue and customer base. The transaction provides the following key strategic benefits: The transaction is subject to approval by AerCap shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. By signing up you agree to receive content from us. Our scale and capabilities enable us to provide comprehensive, innovative, and tailor-made fleet solutions to our customers that are unrivaled in the leasing industry. The transaction provides the following key strategic benefits: The transaction is subject to approval by AerCap shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Court, Political Piece, Passion New technology aircraft will represent approximately 56% of the combined in-service fleet, expected to grow to approximately 75% in 2024. , . DUBLIN, March 10, 2021 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER), the global leader in aircraft leasing,announced today that it has entered into a definitive agreement with General Electric (NYSE:GE) under which AerCap will acquire 100% of GE Capital Aviation Services ("GECAS"), a GE business. AerCap To Acquire GE Capital Aviation Services - Quick Facts - RTTNews Citi and Morgan Stanley acted as financial advisors to AerCap. The call can be accessed live via webcast by AerCap's website at www.aercap.com under "Investors," or by dialing (U.S./Canada) +1 929 477 0402 or (International) +353 1 246 5638 and referencing code 1198955 at least 5 minutes before start time. LLC. (RTTNews) - Irish aircraft-leasing group AerCap Holdings N.V. (AER) announced Wednesday that it has entered into a definitive agreement with General Electric (GE), under which AerCap will acquire 100% of GE Capital Aviation Services (GECAS), GE's aircraft-leasing business. These statements are only predictions based on our current expectations and projections about future events, including the impacts of, and associated responses to: the Covid-19 pandemic; our ability to successfully integrate GECAS' operations and employees and realize anticipated synergies and cost savings; and the potential impact of the consummation of the proposed GECAS transaction on relationships, including with employees, suppliers, customers and competitors. from 8 AM - 9 PM ET. Together we're creating an industry-leading aviation lessor with expertise, scale and reach to better serve customers around the world, while GE gains both cash and upside in the stronger combined company as the aviation industry recovers.". The cash proceeds put us in a position to have reduced our debt by approximately $75 billion since the end of 2018, and we gain a meaningful stake in AerCap that we will monetize as the aviation industry recovers. Were deeply proud of GE employees around the world rising to the challenge. Further information regarding these and other risks is included in AerCap's annual report on Form 20-F and other filings with the United States Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Irish aircraft-leasing group AerCap Holdings N.V. (AER) announced Wednesday that it has entered into a definitive agreement with General Electric (GE), under which AerCap will acquire 100% of GE Capital Aviation Services (GECAS), GE's aircraft-leasing business. New technology aircraft will represent approximately 56% of the combined in-service fleet, expected to grow to approximately 75% in 2024. AerCap is the global leader in aircraft leasing. Whether your need is for narrow or widebody aircraft, regional jets, turboprops, freighters, engines, helicopters or materials, our name has become synonymous with trusted relationships, domain expertise and an ability to execute. Get in touch and stay informed. Accomplished leaders building GEs legacy. DUBLIN, March 10, 2021 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER), the global leader in aircraft leasing, announced today that it has entered into a definitive agreement with General Electric (NYSE:GE) under which AerCap will acquire 100% of GE Capital Aviation Services ("GECAS"), a GE business.. AerCap expects to maintain its current investment grade credit ratings with S&P, Moody's and Fitch. Creating the energy technologies of the future and improving the power networks that we depend on today. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Leading aircraft leasing platform with expanded customer breadth and reach, given AerCap and GECAS's complementary customer bases with limited overlap. For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.comand follow us on Twitter www.twitter.com/aercapnv. Global Business Press | GBP Explore a career with us. The adjusted debt-to-equity ratio of the combined company is expected to be 3.0x at closing of the transaction. GEs people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GEs mission and deliver for its customers. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. On May 30, 2023, AerCap Ireland Capital Designated Activity Company ("AICDAC") and AerCap Global Aviation Trust (together, the "Issuers"), each a wholly-owned subsidiary of AerCap Holdings N.V. (the "Company"), priced an offering of senior notes, consisting of $1 billion aggregate principal amount of the Issuers' 5.750% Senior Notes due 2028 (the "Notes") issued at a price to the public . Under the terms of the agreement, which has been unanimously approved by the boards of directors of AerCap and GE, GE will receive 111.5 million newly issued AerCap shares, $24 billion of cash and $1 billion of AerCap notes and/or cash. AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. The transaction will enhance many of AerCaps key credit metrics, as the combined company will have stronger cash flows and a more diversified revenue and customer base. For more than 125 years, GE has invented the future of industry, and today the companys dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. AerCap will maintain its target adjusted debt-to-equity ratio of 2.7x and expects to return to this level rapidly. Aengus Kelly, Chief Executive Officer of AerCap, said, We are excited about this opportunity to bring together two leaders in aviation leasing. ", GE Chairman and CEO, H. Lawrence Culp, Jr., said, "AerCap is the right partner for our exceptional GECAS team. This combination will enhance our ability to provide innovative and attractive solutions for our customers and will strengthen our cash flows, earnings and profitability. Most stock quote data provided by BATS. Learn more about our culture, businesses, and life at GE. "The combination of GECAS and AerCap will deliver significant value for both companies and their stakeholders," said H. Lawrence Culp, Jr., Chairman and CEO of GE. Sources, Boss GECAS owns, services or has on order approximately 1,700 aircraft. AerCap Holdings N.V. (AerCap), the global leader in aircraft leasing, has entered into a definitive agreement with General Electric under which AerCap will acquire 100% of GE Capital Aviation Services (GECAS), a GE business. For over five decades, we have partnered with our customers to find solutions to their challenges and helped their businesses to thrive. As the recovery in air travel gathers pace, this transaction represents a unique opportunity that we believe will create long-term value for our investors," added Mr. Kelly. For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.com and follow us on Twitter www.twitter.com/aercapnv. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. AerCap to Acquire GE Capital Aviation Services DUBLIN, March 10, 2021 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER ), the global leader in aircraft leasing, announced today that it has entered into a. GECAS serves over 200 customers in ~75 countries from a network of 15 offices around the world. Share this article. RTTNews.com for Performance, Impact Ireland's AerCap buys GE Capital Aviation in $30bn deal www.ge.com, GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and financier. and The transaction will enhance many of AerCap's key credit metrics, as the combined company will have stronger cash flows and a more diversified revenue and customer base. AerCap expects to maintain its current investment grade credit ratings with S&P, Moody's and Fitch. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our annual report on Form 10-K and quarterly reports on Form 10-Q. Best-in-class trading platform with deep market insight and relationships: over the past four years AerCap and GECAS have sold on average over. About GE subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC (NYSE:GE) under which AerCap will acquire 100% of GE Capital Aviation Services ("GECAS"), a GE business. In connection with this announcement, management will host a conference call with members of the investment community, Wednesday, March 10, 2021, at 8:30 a.m. Eastern Standard Time. Leading aircraft leasing platform with expanded customer breadth and reach, given AerCap and GECAS's complementary customer bases with limited overlap. Explore the latest stories, news, downloads, and press tools. Read the latest GE financial news releases and stories. Access important shareholder information. Explore GEs recent and historic SEC filings. ", GE Chairman and CEO, H. Lawrence Culp, Jr., said, "AerCap is the right partner for our exceptional GECAS team. gecas.aero. GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, capital markets, and airframe parts management. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. Narrowbody aircraft will represent approximately 60% of the combined aircraft fleet. Mary Kate Mullaney, 202.304.6514 ", GE Chairman and CEO, H. Lawrence Culp, Jr., said, "AerCap is the right partner for our exceptional GECAS team. The adjusted debt-to-equity ratio of the combined company is expected to be 3.0x at closing of the transaction. AerCap and GECAS both have industry-leading teams, attractive portfolios, diversified customer bases and order books of the most in-demand new technology assets. The combined company will retain the name AerCap, and GECAS will become a business of AerCap. GE Announces Combination of GECAS and AerCap | GE News BOSTON, Mass.March 10, 2021GE (NYSE:GE) announced today an agreement to combine its GE Capital Aviation Services business ("GECAS") with AerCap Holdings N.V. ("AerCap"). By signing up you agree to receive content from us. DJIA, which is delayed by two minutes. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Whether your need is for narrow or widebody aircraft, regional jets, turboprops, freighters, engines, helicopters or materials, our name has become synonymous with trusted relationships, domain expertise and an ability to execute. Cities, CNN General Electric now owns approximately 46% of AerCap's outstanding shares. , . GE (NYSE:GE) rises to the challenge of building a world that works. Chicago Mercantile Association: Certain market data is the property of Morningstar: CNN. Justice, Energy + Together were creating an industry-leading aviation lessor with expertise, scale and reach to better serve customers around the world, while GE gains both cash and upside in the stronger combined company as the aviation industry recovers.. The combined company will retain the name AerCap, and GECAS will become a business of AerCap. The combined company will be an industry leader across all areas of aviation leasing, with over 2,000 owned and managed aircraft, over 900 owned and managed engines, over 300 owned helicopters and approximately 300 customers around the world. These statements are only predictions based on our current expectations and projections about future events. Store, Work for New technology aircraft will represent approximately 56% of the combined in-service fleet, expected to grow to approximately 75% in 2024. Leading aircraft leasing platform with expanded customer breadth and reach, given AerCap and GECAS's complementary customer bases with limited overlap. It went through an IPO in 2016 and operates under the new name of Moneta Money Bank. AerCap To Acquire GE Capital Aviation Services - Quick Facts Upon completion of the transaction, GE is expected to own approximately 46% of the combined company and willbe entitled to nominate two directors to the AerCap Board of Directors.
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