An elephant wedding is imminent in the aircraft leasing sector, as AerCap intends to take over competitor Gecas. The EU Commission gave the green light for the 30 billion dollar transaction.

The two Lessors are considered to be the largest customers of Boeing and Airbus as well as other aircraft manufacturers. After the merger of the business operations, the world's largest lessor is to be created. The US antitrust authority requested the EU Commission to submit a statement by July 26, 2021.

According to Reuters, the European competition watchdogs have not reported any concerns. The transaction to purchase GECAS comprises approximately $ 24 billion in cash and $ 1 billion in AerCap notes or cash. It contains 111 million new shares and will give GE a 46% stake in the AerCap-controlled company.