News: AerCap-GECAS tie-up is ‘bad news’ for airlines, says IATA chief.
PARIS (Reuters) – The takeover of rival GECAS by aircraft leasing giant AerCap will reduce competition in the aircraft market and bring bad news to airlines, the head of its most important global body said on Wednesday.
“We understand that the situation of the leasing companies is difficult,” IATA general manager Alexandre de Juniac told Reuters. “But combining the two to have a great player in a very dominant situation is not good news for us.”
The two largest aircraft rental companies in the world announced plans to merge last week. Ireland’s AerCap agreed to pay more than $ 30 billion for GECAS, General Electric’s air finance business.
Reporting by Laurence Frost and Tim Hepher; Editing by Edmund Blair
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