What does GECAS stand for?

GE Capital Aviation Services
GECAS (GE Capital Aviation Services) is an Irish–American commercial aviation financing and leasing company. It is the largest commercial airline leasing/financing company in the world by number of aircraft. GECAS is a subsidiary of GE Capital, the finance arm of General Electric.

How many planes does GECAS have?

73 Aircraft
GECAS Fleet Details and History

Group / Part of General Electric
Fleet Size 73 Aircraft (+ 2 On Order/Planned)
Average Fleet Age 1 12.1 Years
Official Site gecas.com

Why do airplanes lease?

Aircraft leases are leases used by airlines and other aircraft operators. Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate aircraft without the financial burden of buying them, and to provide temporary increase in capacity.

How many planes does AerCap own?

As of June 2020, AerCap had 1,035 owned, managed aircraft in its portfolio.

What is GE corporate audit staff?

GE runs an intense 5-year program to develop executives, and only 2% finish it. The five-year training program immerses entry-level GE workers in real-world audit, technology, and operations jobs. It is officially known as the corporate audit staff (CAS) — but internally it is called the Green Beret program.

Do airlines buy or lease aircraft?

Most airlines usually don’t have, or would rather not spend, this much money on just one order. So instead, airlines opt to lease their aircraft from an aircraft lessor. In essence, lessors purchase planes from manufacturers like Airbus and Boeing and lease them to airlines for a monthly rental over a fixed period.

Why is it called wet lease?

Now you’ll know why. Aircraft on a wet lease (also called an ACMI lease) tend to be the easiest ones to spot. The reason for that is because the crews are actually employees of the aircraft owner instead of the airline you bought your ticket on. Airlines in general tend to consider wet leases for more short term needs.

Who is the CEO of AerCap?

Aengus Kelly (May 18, 2011–)
AerCap CEO Aengus Kelly discusses the company’s acquisition of GE’s aircraft leasing business in a deal valued at $30 billion.

Who owns Aircap?

AerCap Holdings N.V.
The deal gave AerCap $43 billion in total assets and a fleet of over 1,300 aircraft, compared to GE Capital Aviation Services with a fleet of 1,800+ aircraft….AerCap.

Type Public
Total equity US$ 9.5 billion (2019)
Number of employees 390 (2019)
Parent AerCap Holdings N.V.
Website www.aercap.com

What is GE program?

Leadership programs are platforms within GE that are designed to build the next generation of leaders. These programs build perfect foundation for accelerating learning and development in a particular domain, from commercial to operations, from human resources to information technology, from finance to communications.

What company owns the most airplanes?

The largest fleet in the world belongs to American Airlines, with 872 aircraft.

Who is the executive vice president of GECAS?

GECAS’ Executive Vice President of Technical is responsible for leading GECAS’ global technical team. David has been with GECAS for 15 years and previously held the role of SVP Technical Operations. Before joining GECAS, David worked with Boeing’s Engineering team in Seattle, Washington.

What kind of financing does GECAS offer?

GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, capital markets, and airframe parts management.

How many customers does GECAS have in the world?

GECAS proudly serves more than 200 customers across roughly 70 countries – from startups to flagship airlines, from regionals to low cost carriers, from cargo airlines to helicopter operators. The breadth and depth of our customer base speaks to the strength of our relationships.

What does GECAS stand for in aircraft leasing?

GECAS is the global commercial aircraft financing and leasing business of GE. Our story began in 1967, when we contracted our first aircraft lease agreement, a landmark that would help launch a new industry, allow easier access to capital for the world’s rapidly expanding airline industry and enable lower cost air travel for millions of travelers.