Aercap-GECAS represent 37% of Top 10 lessors fleets | News | Airfinance Journal

Aercap-GECAS represent 37% of Top 10 lessors fleets

Aercap has closed the acquisition of GECAS from General Electric.

Airfinance Journal estimates that the combination of both entities will represent 2,196 commercial aircraft, or 37.5% of the Top 10 lessors.

Airfinance Journal's Fleet Tracker shows that, as of 30 June 2021, GECAS's fleet totalled 1,168 aircraft.

GECAS is the largest narrowbody lessor with 812 aircraft, compared with Aercap's 767 units.

The Aercap-GECAS combination represents 1,579 narrowbodies, or 37.7% of the Top 10 lessors.

The combined fleet has a larger share of the widebody sector. Both Aercap and GECAS have 378 widebodies, Fleet Tracker estimates. This represents 40.5% of the Top 10 lessors.

When the merger was first announced in early March, Airfinance Journal estimated the combined fleet at 2,175 aircraft and 531 units on order.

The top five lessee exposures would account for 413 aircraft, including American Airlines (196), United Airlines (92), Southwest Airlines (56), Azul Linhas Aereas (47) and S7 Airlines (43), the data shows.

Transaction SnapshotAercap | Bond issuance | 10-21 | $21bn

Financial Close:
21/10/2021
SPV:
AerCap Ireland Capital Designated Activity Company, AerCap Global Aviation Trust
Value:
$21,000.00m USD
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