Genesis Lease Explained

Genesis Lease
Type:Subsidiary of General Electric
Industry:Aircraft leasing
Fate:Merged with AerCap
Predecessors:-->
Successors:-->
Founders:-->
Hq Location City:Shannon, County Clare
Hq Location Country:Ireland
Areas Served:-->
Owners:-->

Genesis Lease Limited was a global aircraft leasing company incorporated in Bermuda in July 2006 and had a successful IPO and New York Stock Exchange listing in December 2006. It was headquartered in Shannon, County Clare, Ireland. It acquired its initial portfolio of leased aircraft from GE Capital Aviation Services (GECAS), who continued to service the portfolio (collecting rentals, monitoring maintenance condition, etc.). On 25 March 2010 Genesis Lease Limited merged with AerCap Holdings N.V. in an all share-for-share merger.[1]

Genesis stock was traded on the New York Stock Exchange as an American depositary receipt stock under the ticker GLS.

Notes and References

  1. News: Jacobs. Karen. UPDATE 1-AerCap completes acquisition of Genesis Lease. 3 December 2011. 25 March 2010. Reuters.