GECAS
 |
|
| Subsidiary | |
| Industry | Aviation leasing |
|
Number of locations
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Norwalk, Connecticut, United States Shannon, County Clare, Ireland Singapore |
|
Area served
|
Worldwide |
|
Key people
|
Alec Burger (President & CEO) |
| Products |
Aviation leasing Engine leasing Aircraft parts |
| Parent | GE Capital |
| Website | www |
GE Capital Aviation Services (GECAS) is an Irish-American commercial aircraft financing and leasing company. It is the largest commercial airline leasing/financing company in the world. It is part of GE Capital, a company of the large conglomerate General Electric. GECAS buys aircraft from manufacturers like Airbus and Boeing and then leases them to airlines, typically on eight year leases, usually on dry lease contracts. It also buys aircraft from airlines and leases them back. The company has three global headquarters, located in Singapore; Shannon, County Clare and Norwalk, Connecticut.
The primary competition for GECAS is AerCap, although other companies such as Air Lease Corporation, Aviation Capital Group, BBAM and SMBC Aviation Capital also compete with it.
GECAS has a fleet of over 1800 aircraft, used by 245 airlines. Nearly all aircraft owned by GECAS are powered by engines from either GE Aviation, another subsidiary of General Electric, or CFM International, a GE Aviation/Snecma joint venture.
GECAS was formed in 1993 to manage the assets bought from the Irish-based Guinness Peat Aviation. The company GE Capital Aviation Services Limited was based in Ireland and originally staffed by former GPA employees. GE Capital also incorporated the California-based Polaris Aircraft Leasing into the group.
GECAS also owns a minority stake in Oxford Aviation Academy retained when they sold 80% (before dilution) of GECAT to STAR Capital Partners in 2007.
In 2015, GECAS took over the Irish-based Milestone Aviation to add helicopters to its leasing portfolio.
GECAS maintains a portfolio of narrowbody and widebody passenger aircraft, cargo aircraft, and regional and turboprop aircraft from manufacturers Boeing, Airbus, Embraer, Bombardier and ATR. Through its Milestone Aviation Group, GECAS also owns and leases AgustaWestland, Sikorsky and Airbus Eurocopter helicopters. Customers finance these aircraft through the following GECAS offerings:
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Wikipedia