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Gecas

GE writes off $729M of goodwill in Milestone Aviation

GE writes off $729M of goodwill in Milestone Aviation

In it’s 2020 Q2 report released yesterday, US conglomerate General Electric has written off $729 million of their valuation of the Milestone Aviation helicopter leasing business they acquired in 2015 for $1.775 billion plus the assumption or payoff of the company’s existing debt. GE normally carries out an annual test for goodwill impairment in their… Read more »

Source: HeliHub.com, 30-Jul-20

Milestone CEO promoted to top GECAS role

Milestone CEO promoted to top GECAS role

Greg Conlon has been promoted to the role of President and CEO of GECAS, effective immediately. Alec Burger will continue as President & CEO of GE Capital and will also serve as the Chairman of GECAS. GECAS has consistently delivered excellent results for many years and is positioned for continued success. This change in leadership… Read more »

Source: GECAS, 11-Nov-19

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Apollo and Athene to Acquire PK AirFinance From GECAS

Apollo and Athene to Acquire PK AirFinance From GECAS

Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO); Athene Holding Ltd. (NYSE: ATH); and GE Capital, the financial services arm of GE (NYSE: GE), today announced that they have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services… Read more »

Source: Apollo Global Management, 29-Aug-19