AerCap to acquire rival aircraft lessor Genesis

AerCap Holdings said it will buy Genesis Lease in an all-stock transaction to merge the European aircraft-leasing companies. The deal, which offers one AerCap share for each Genesis share, is valued at $1.75 billion. The deal comes at a time when aircraft lessors are trying to cope with tight credit conditions. International Lease Finance, the world's largest lessor by fleet value, has debt trading at roughly triple the average financing rates of the past few years, CreditSights said.

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