(Reuters) – Ireland’s AerCap Holdings NV on Tuesday confirmed that ongoing talks with General Electric Co on the acquisition of its aircraft leasing business have been confirmed.
The American company, known as GE Capital Aviation Services or GECAS, is one of the world’s largest aircraft rental companies. It leases passenger aircraft made by companies, including Boeing Co and Airbus SE.
Reuters reported Monday that AerCap and General Electric are discussing an agreement to forge a titan with more than 2,000 aircraft, citing people familiar with the matter.
AerCap said the outcome of the talks has yet to be determined and there can be no guarantee that an agreement will be reached.
“No further statements will be made by the issuers or the company on this matter until the time the bookings are finalized,” the Irish aircraft lessor said in a statement.
GE and AerCap, the two largest aircraft rental companies in the world, are paving the way for the biggest aircraft crash in almost a decade.
This is because the COVID-19 pandemic is expected to shift more of the world’s fleet of battered airlines to the leasing industry, which already owns about half of Airbus and Boeing deliveries.
Reporting by Shreyasee Raj; Edited by Bernard Orr