The two companies, which tied the knot on Wednesday, March 10, after days of speculation surrounding a takeover of GE's leasing arm GECAS, together control more than 2,000 jets, dwarfing rivals.
The deal comes as the independence of several leasing firms has been brought into question by the coronavirus crisis and could trigger further consolidation, analysts say. "This deal marks a real transformation of GE into a more focused, simpler, and stronger industrial company," Culp said. "We have the flexibility to monetize the stake as the aviation industry recovers," Culp told analysts.
The deal, which includes the transfer of about 300 helicopters, is expected to close in the 4th quarter of 2021.
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