IRISH LESSOR AerCap has acquired GECAS in a transaction that makes it the industry's largest leasing company. AerCap now manages assets worth a combined U$75bn, with its portfolio consisting of 2,000 aircraft, 900 engines and 300 helicopters in service. The Irish firm has also become the biggest single customer for both Airbus and Boeing, holding more than 450 aircraft orders with the two major commercial aircraft suppliers. AerCap CEO Aengus Kelly said: "Completion of this transaction represents an important milestone for AerCap that will generate benefits for our customers, partners, employees and investors for many years to come." AerCap previously expanded in 2014 when it acquired ILFC, but Kelly said the newly enlarged company's scale enables it to provide an "unrivalled" fleet and "comprehensive, innovative and tailor-made" offers to its clients.
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