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GECAS (GE Capital Aviation Services) was an Irish–American commercial aviation financing and leasing company. AerCap acquired the company from GE Capital on November 1, 2021. [1] GECAS was the largest commercial airline leasing/financing company in the world by number of aircraft. [2]
Commercial aircraft, such as those operated by airlines, use more sophisticated leases and debt financing schemes. The three most common schemes for financing commercial aircraft are [citation needed] Secured lending; Operating leasing; Finance leasing. However, other ways to pay for the aircraft & flying equipment are: [2] Cash
As of the end of 2009, according to an audit of Aveos conducted by KPMG, Aveos owed at least $715 million to a consortium of lenders, including Lehman Brothers Inc. and Woodbridge Investments Inc. In early 2010, a group of 11 lenders took control of Aveos from Kohlberg Kravis Roberts & Co. and Sageview Capital LLC.
On July 1, 2008, the company announced the sale of its home lending division to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion in debt and the sale of its manufactured housing loan portfolio, with a face value of $470 million in loans, to Vanderbilt Mortgage and Finance for approximately $300 million. [17] [18]
KUALA LUMPUR/SINGAPORE (Reuters) - Malaysia Airlines Bhd is tapping banks to fund about nine Boeing 737 MAX planes in what will be the carrier's first jet financing with lenders since it was ...
At the time of sale, AWAS had a leasing portfolio of 105 aircraft valued at US$4 billion, with 47 airlines. [6] The Ansett name was retained as it was instantly recognisable in the global aviation industry. [4] Under Morgan Stanley ownership the company was renamed simply Ansett Worldwide, the Aviation Services being omitted.
FlyJets CEO Jessica Fisher said an "empty-leg split" could cut the cost of flying private by up to 40% and help aircraft operators earn more revenue.
In April 2017, HNA Group affiliate, Avolon, completed the purchase of CIT Group's aircraft leasing business for US$10.38 billion making HNA the 3rd largest aircraft leasing company in the world with a fleet of 868 aircraft. [99] In April 2017, HNA Group purchased a 16.8% stake in Swiss-based travel retailer Dufry. [100]