Jet-Leasing Mega-Deal Could Herald Consolidation Wave in Sector - Bloomberg
AerCap Holdings NV’s $30 billion deal to buy General Electric Co.’s plane-leasing arm is spurring talk of further consolidation in the sector just as air travel is poised to begin a slow recovery from the Covid-19 crisis.
The transaction could be followed by more mergers and acquisitions, according to analysts at JPMorgan Chase & Co. Cowen Inc.’s Helane Becker said its valuation should give investors comfort around book values, while a firm the size of the enlarged AerCap will be able to dictate jet design and purchase terms to manufacturers.
Fly Leasing Ltd., led by former Aer Lingus chairman Colm Barrington, has been exploring a sale, according to people familiar with the matter. Hong Kong’s billionaire Cheng family has also gauged buyer interest in Goshawk Aviation over the past year, the people said, asked not to be identified because deliberations are private.
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