Canada's CDPQ and GE to form $2 bln aircraft financing platform


Reuters

UPDATE 1-Canada's CDPQ and GE to form $2 bln aircraft financing platform


(Adds details, shares)
    June 19 (Reuters) - CDPQ, Canada's second-largest pension
fund, and General Electric Co <GE.N> signed a commitment letter
to form a $2 billion global aircraft financing platform.
    The new platform, to be named Einn Volant Aircraft Leasing,
will acquire fuel-efficient aircraft from global airlines and
lease them back to airlines under long-term leases, the
companies said in a statement. [nCNW0pRTHa]
    For CDPQ, which is one of Canadian planemaker Bombardier
Inc's <BBDb.TO> biggest shareholders, the deal marks an entry
into the aircraft leasing and financing industry.
    GE's shares were up 0.7 percent at $29.20 in premarket
trading on Monday.

 (Reporting by John Benny in Bengaluru; Editing by Supriya
Kurane and Martina D'Couto)
 ((John.Benny@thomsonreuters.com ; within U.S. +1 646 223 8780;
outside U.S. +91 80 6749 6718; Reuters Messaging:
John.Benny.thomsonreuters.com@reuters.net))

Keywords: CDPQ GE/CONTRACT (UPDATE 1)



This article appears in: Stocks , Politics
Referenced Symbols: GE


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