GE, PIMCO to Partner on $3 Billion Air Leasing Platform

The aviation leasing arm of General Electric (NYSE: GE) is partnering with PIMCO Investment Management to launch an aircraft leasing platform to support up to $3 billion in aircraft financing. GE's GECAS division is already one of the world's largest aircraft lessors, buying planes directly from manufacturers and leasing them to airlines. It's a model that airlines have embraced in recent years as a way to keep aircraft debt off their balance sheets, leading to a rise in interest for businesses including GECAS, AerCap Holdings (NYSE: AER), and Air Lease (NYSE: AL).