Bombardier sells corporate jet finance business | Aviation International News

Finance, Taxes, Insurance

Bombardier sells corporate jet finance business

General Electric has purchased the bulk of Bombardier Capital’s corporate aircraft leasing and financing business.

By Gordon Gilbert • Contributor - Accidents and Regulations

August 5, 2008

General Electric has purchased the bulk of Bombardier Capital’s corporate aircraft leasing and financing business. The selling price of $339 million represents the “book value” of the loans and financial leases outstanding, Bombardier said.

Bombardier, which declined to comment on the number and types of aircraft in the portfolio, first announced its intention to withdraw from financing business aircraft last September as a means of reducing corporate debt. The company reiterated its intention in April when it revealed a far-reaching reorganization that included selling several other businesses, as well as the financing portfolio. Bombardier had been in the corporate airplane finance business since 1991.

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