Business & GA, Commercial

GE Sells off Aircraft Assets to Global Jet Capital

By Juliet Van Wagenen | October 7, 2015
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Photo: GE
Photo: GE

[Avionics Today 10-07-2015] Global Jet Capital, a company that leases large-cabin, long-range private jets, has signed an agreement to purchase approximately $2.5 billion in net assets from GE Capital's Corporate Aircraft portfolio in the Americas. In addition to GE's aircraft loan and lease portfolio, the GE Capital Corporate Aircraft team will join the Global Jet Capital organization.

Global Jet Capital, which was launched last year, is capitalized by investment funds managed by Franklin Square Capital Partners, The Carlyle Group, and AE Industrial Partners.

"We are investing heavily in growing the business both organically and through strategic acquisitions such as this one with GE,” said Shawn Vick, executive director of Global Jet Capital.

The transaction is expected to close in stages over the next several months, subject to customary regulatory and other approvals.

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