A giant merger in aircraft leasing is reported to be underway: General Electric and Aercap, major owners of Norwegian, are about to merge their operations in a deal worth the equivalent of more than SEK 250 billion.

General Electric is close to a deal estimated to be worth around $30 billion, equivalent to SEK 257 billion, in which the company's aircraft leasing business would be merged with Irish aircraft leasing partner Aercap Holdings. 

This is reported by Dow Jones, citing sources with insight.

GE Capital Aviation Services (Gecas) is one of the world's largest aircraft leasing companies, and the largest part of what remains of GE Capital, which came close to sinking the company during the last financial crisis, but since 2015 GE has reduced its lending business.

Aercap owns 4.5 percent of the shares in Norwegian Air Shuttle. Previously, the company had a stake of almost 16 percent in the Norwegian airline, but has reduced its holding during the year.

According to Dow Jones, a statement is expected on Monday, unless talks between the companies break down.

Source: news agency direct-di