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Article: Aircraft Finance & Leasing News - North America.
- Article from:
- AirGuide Business
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 Pyramid Media Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sep 20, 2009
AerCap, Genesis Lease
Aircraft leasing company AerCap on Friday said it would buy rival Genesis Lease for about USD 302.6 million in stock, giving it greater scale and access to more funds for aircraft purchases. The deal comes as the industry faces some strong headwinds. Airlines worldwide are suffering from weak economies, the financial crisis has made funding hard to come by and some distressed companies are shedding their aircraft leasing units. AIG is selling International Lease Finance, Royal Bank of Scotland is considering options for RBS Aviation, and CIT Group is expected to put its business on the market. The deal will give Aercap ...
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