World Economy

GE May Buy Milestone Aviation

GE May Buy Milestone AviationGE May Buy Milestone Aviation

General Electric Co’s finance arm is in talks to buy Milestone Aviation Group Ltd, as the US conglomerate looks to expand its aircraft-leasing operation into helicopters, Reuters quoted The Wall Street Journal report. The purchase price for Milestone could be more than $2.5 billion, according to some of the people, it said. Milestone, co-founded by NetJets Inc founder Richard Santulli, has announced plans for an initial public offering of stock, according to the report. Buying Milestone, the world’s largest helicopter-leasing company by fleet value, would broaden GE Capital Aviation Services’ portfolio beyond the competitive plane-leasing business, as it currently owns no helicopters, it said.