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Report: Apollo Global Management weighing deal for GE Capital Aviation

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Report: Apollo Global Management weighing deal for GE Capital Aviation

Apollo Global Management LLC is weighing a bid to buy all or part of General Electric Co.'s jet-leasing business, according to a Bloomberg News report.

The alternative asset manager is reportedly in discussions with lenders about a potential $30 billion line of financing that would help fuel its offer to buy GE Capital Aviation Services Inc., which Bloomberg reported as being worth as much as $40 billion.

GE's plane-leasing business has been a steady earner for the struggling manufacturer over the last several years. GE Capital Aviation Services brought in 56% of GE Capital's revenues in 2017, which was up from 49% a year earlier, according to the company's 2017 annual report. The business brought in $3.6 billion through the first three quarters of 2018, which was down from $3.9 billion in the same period of 2017, according to GE's third-quarter SEC filing.

Apollo may not be alone in its pursuit of GE Capital Aviation Services, though. The business reportedly caught the attention of Singapore's sovereign wealth fund, GIC Pte. Ltd., in September 2018, according to Bloomberg.