GE Capital Aviation Services has agreed to buy Dublin-based helicopter lessor Milestone Aviation Group for $1.775 billion. The aircraft leasing unit of GE said helicopter finance is a fast-growing sector in aviation. "The addition of Milestone will deepen our domain expertise in aviation and oil and gas, two critical GE industries," GE Capital Chief Executive Keith Sherin said in a statement. Milestone has a fleet of 168 helicopters worth $2.8 billion, along with a forward order and option book of $3 billion. GE shares were slightly higher in premarket trade, but are down 13% in the year to date, while the S&P 500 has gained 3.1%.
Copyright © 2014 MarketWatch, Inc.
Continue Reading Below