Article: Aircraft Finance & Leasing News - North America.

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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