GE buys Irish helicopter-leasing firm for €1.4bn

Dublin-based helicopter-leasing firm Milestone Aviation Group is to be acquired by the sector’s biggest player, GE Capital Aviation Services, for nearly $1.8bn (€1.4bn).

Helicopter finance is one of the fastest-growing areas of the aviation sector. The move will diversify the GECAS — General Electric’s aircraft-leasing subsidiary, which also has a base in Shannon — business model beyond leasing of commercial jets and put its capital “to work at good returns”, according to chairman and chief executive Keith Sherin.

“The addition of Milestone will deepen our domain expertise in aviation and oil and gas; two critical GE industries,” added Mr Sherin.