AerCap and GECAS merger:
A good idea? — April 2021

The macro-trends impacting the global leasing industry, covered in the previous article, suggest why the mega-merger between AerCap and GECAS might be a good idea. Here we review some of the specifics of the proposed merger.

Positioning an expanded company to take advantage of the almost certain enhancement of lessors’ control of the global fleet is one rationale for the merger. The other is our more speculative argument that prospects of serious consolidation may be less than expected because of the geopolitical split between US and Chinese controlled lessors.