GE Capital Aviation Services

GE Capital Aviation Services (GECAS)

Type	Subsidiary
Industry	Aviation leasing
Headquarters	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.gecas.com

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.^[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.

History

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.^[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 took over the Irish-based Milestone Aviation to add helicopters to its leasing portfolio.^[3]

Products

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.^[4] Customers finance these aircraft through the following GECAS offerings:^[5]

• Operating leases
• Purchase leaseback agreements
• Secured loans
• Aircraft servicing

Additionally, GECAS buys, leases and finances aircraft engines from GE and CFM, as well as from manufacturers Rolls-Royce, Pratt & Whitney, IAE and Engine Alliance.^[6] GECAS provides the following for its engine pool:^[7]

• Operating leases
• Short-term leases
• Purchase leaseback agreements
• Secured loans
• Engine exchange
• Engine servicing

GECAS distributes recertified engine and aircraft parts through its Asset Management Services group. The company maintains an inventory of parts from Airbus, Boeing, Douglas and Bombardier aircraft that have been overhauled, repaired or modified and distributes these parts from warehouses in North America, Europe and Asia. ^[8]

GECAS also operates AviaSolutions, which provides aircraft consultancy services to airports, investors and financial institutions, governments and airlines. AviaSolutions advises clients on business development, route development, infrastructure planning, airline management, regulations, and various other projects. ^[9]

References

External links

• Official website

General Electric
Subsidiaries and divisions	Current GE Capital GE Capital Aviation Services GE Commercial Finance GE Energy Financial Services GE Capital Rail Services (Europe) GE Technology Infrastructure GE Aviation GE Aviation Systems GE Healthcare GE Transportation GE Energy GE Digital Energy GE Jenbacher GE Measurement & Control Solutions GE Oil & Gas GE Power GE Wind Energy GE Wind (offshore) GE Home & Business Solutions GE Intelligent Platforms GE Global Research GE Ventures Former and defunct Australian Guarantee Corporation1 Canadian General Electric1 Compagnia Generale di Elettricità2 Electric Bond and Share Company2 GE Americom2 GE Aerospace2 GE Betz1 GE Capital IT Solutions2 GE Consumer & Industrial GECIS2 GE Capital Rail Services2 GE Equipment Services1 GE Industrial1 GE Infrastructure1 GEIS2 Genesis Lease2 GE Security2 Genworth Financial2 Montgomery Ward2 Synchrony Financial2 Tungsram1 Whatman1
Joint ventures and shareholdings	Current CFM International (50%) Engine Alliance (50%) GE Hitachi Nuclear Energy (60%) GE Honda Aero Engines (50%) Penske Truck Leasing Prolec GE (49.99%) TBS GB Former Alco-GE (1940–53) NBC (1926–30, 1986–2004) NBCUniversal, LLC (2004–13)
Products and brands	Aircraft engines General Comprehensive Operating System GEnie Locomotives Mazda Reciprocating engines Trivection oven Tungsram
People	Founders Charles A. Coffin Thomas Edison Edwin J. Houston J. P. Morgan Elihu Thomson Other James Cash Jr. Ann Fudge Susan Hockfield Jeffrey R. Immelt Andrea Jung Rochelle Lazarus Sam Nunn Roger Penske Douglas A. Warner III Jack Welch Bob Wright
Places and facilities	GE Building General Electric Building Nela Park Realty Plot Research Laboratory River Works Specialty Control Plant Switchgear Plant Welch Technology Centre
Other	Edison Engineering Development Program GE True The General Electric Concert General Electric EdgeLab General Electric Theater General Imaging Thomson-Houston Electric Company Timeline United States v. General Electric Co.
1Now integrated into other GE divisions or business groupings 2Sold or spun off Category Commons