GE Capital Aviation Services

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GE Capital Aviation Services
Subsidiary unit
Industry Aviation leasing
Headquarters Stamford, Connecticut
Shannon, Ireland
Area served
Worldwide
Key people
Norman Liu, President
Products aircraft leasing
Parent GE Capital
Website www.gecas.com

GE Capital Aviation Services (GECAS) is a Irish-American commercial aircraft financing and leasing company. 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 three to five year leases, usually on dry lease contracts. It also buys aircraft from airlines and leases them back. The company has two global headquarters, located in Shannon, Ireland and Stamford, CT.

The primary competition for GECAS is ILFC, although other companies such as Air Lease Corporation, Aviation Capital Group, AerCap, BBAM and SMBC Aviation Capital also compete with it. GECAS is the largest aircraft lessor in the world by fleet size according to the 2005 Airfinance Journal Operating Lessor Survey.

GECAS has a fleet of over 1800 aircraft, used by 245 airlines.[1] 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.[citation needed]

History[edit]

GECAS was formed in 1993 to manage the assets bought from the irish-based Guiness 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.[2]

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 tookover the Irish-based Milestone Aviation to add Helicopters to its leasing portfolio.[3]

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