AAR And GE Form Rotables Leasing Joint Venture
The combined strengths enable AIMCO to commit to the significant levels of investment necessary to structure large, comprehensive leasing packages. Leasing rotables frees up capital, allowing customers to fund equipment needs and expansion, and allows for disposal of rotables at lease end without any financial commitment by the lessee. The new venture has already completed two transactions.
"We view this joint venture as two leaders in the industry joining forces to offer airlines a low cost alternative to inventory ownership, freeing up their capital to invest in more strategic areas," David P. Storch, AAR CORP. president and chief executive officer, said.
"Given that GECAS differentiates itself as a comprehensive solutions provider, this joint venture will provide customers with new service capabilities that this combined venture will be uniquely qualified to offer," said Henry Hubschman, president of GECAS. "Based on our recent discussions with many of GECAS' 175 customers, we expect many airlines to realize the immediate financial and operating benefits of this service."
"Combining our companies' strengths in a joint venture opens opportunities for us to provide an extensive range of products and services to our customers," Bill Vareschi, GE Engine Services, Inc. president and chief executive officer, said. "Leasing inventory and thereby reducing operating costs will be an attractive alternative to many of our customers."
Airframe rotables include repairable parts such as accessories, avionics, instruments and engine QEC components; engines, engine modules and whole aircraft are not included. AIMCO financing services can be augmented with onsite inventory management and AIMCO's partners can both provision and repair and overhaul rotables.
GE Capital Aviation Services is a leading global aviation finance company, and part of GE Capital. GE Capital, with assets of more than US$250 billion, is a global, diversified financial services company with 28 specialized businesses, and is a wholly-owned subsidiary of General Electric Company. GE Engine Services is the world's leader in total aviation services, with facilities worldwide.
AAR CORP., traded NYSE (AIR), is the premier supplier of aerospace/aviation aftermarket products and services. The company primarily supplies parts and equipment, performs technical services and manufactures proprietary products for the global aviation industry.
Contact
Media Team
Corporate Marketing & Communications
+1-630-227-5100
Editor@aarcorp.com
Related news
See allJanuary 07, 2025
AAR reports second quarter fiscal year 2025 results
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, reported today financial results for the fiscal year 2025 second quarter ended November 30, 2024.
December 23, 2024
AAR named one of America’s Most Responsible Companies 2025 by Newsweek
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, is proud to announce it has been recognized by Newsweek as one of America’s Most Responsible Companies 2025. This prestigious award is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. The awards list was announced earlier this month and can currently be viewed on Newsweek’s website.
December 20, 2024
AAR announces divestiture of non-core Landing Gear Overhaul business to optimize portfolio
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has entered into a definitive agreement to divest its Landing Gear Overhaul business to GA Telesis. The transaction is valued at $51 million and is expected to close in the first quarter of the 2025 calendar year, subject to customary and regulatory closing conditions. The divestiture will be immediately accretive to margins and earnings.