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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	General Electric on Wednesday said it had agreed to a $30 billion tie-up of its aircraft leasing unit with Irish peer AerCap amid the downturn in air travel caused by the coronavirus pandemic. GE chairman and CEO Lawrence Culp said the creation of "an industry-leading aviation lessor" gives GE "cash and a meaningful stake in the stronger combined company" as the aviation industry undergoes recovery. GE will have a 46-percent stake in the new company. A transaction is the latest move by GE to remake itself under Culp, who was named chief executive in 2018 amid a deep slump in the industrial giant. Its aircraft leasing unit GECAS has more than 1,650 aircraft of different sizes, while AerCap owns, manages or has ordered more than 1,300 aircraft. GE said Wednesday that it plans to focus on its industrial core of power, renewable energy, aviation and healthcare. It plans to reduce debt by around $30 billion, using proceeds from the transaction and existing cash sources, bringing its total reduction in debt since the end of 2018 to more than $70 billion. jbo-bcp/rfj/rl
schema:headline	GE aircraft leasing unit agrees $30bn Irish tie-up
schema:mentions	Saint Lawrence General Electric Republic of Ireland Industry Renewable energy Chief executive officer Pandemic Coronavirus Peerage of Ireland GE Capital Aviation Services AerCap Aircraft lease
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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