Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of AerCap (NYSE: AER) are up over 17% on Monday after reports emerged that it is nearing a $30 billion-plus deal to combine with General Electric’s (NYSE: GE) aircraft leasing business.
The Wall Street Journal said on Sunday that details of how the deal will be structured are not currently known, but an announcement is expected today.
GE Capital Aviation Services (GECAS) is a leading jet leasing company, leasing passenger aircraft made by Boeing and Airbus. Between them, AerCap and GECAS have almost 3,000 aircraft owned, managed or on order.
According to a Bloomberg report in 2019, a sale of GECAS could garner approximately $25 billion.
Shares or AerCap are currently up 15.9% at $58.89 per share, while General Electric’s stock price is trading 3.6% higher at $14.09.
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