GE Capital Aviation Services closes acquisition of Milestone Aviation Group

GE Capital Aviation Services (GECAS), the aircraft leasing unit of GE (GE), completed and closed its acquisition of Milestone Aviation Group, the Dublin-based helicopter lessor, for US$1.775bn plus the assumption or payoff of Milestone’s existing debt. “The acquisition of Milestone is a key part of our growth strategy for 2015 and beyond as we add an experienced team and expand into a natural adjacency for us, helicopters,” said Norman Liu, president and chief executive officer. The acquisition also is in line with GE Capital’s strategic plan of growing and enhancing value in core areas aligned with GE’s industrial domains including energy, aviation, oil & gas and healthcare, while reducing the overall size of GE Capital through the disposition of non-strategic assets.