Merger of AerCap Holdings N.V. and International Lease Finance Corporation

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• Case number: 03/2014
• Date: 10/2/2014
• Company:
  • AerCap Holdings N.V.
  • International Lease Finance Corporation
• Sectors:
  • Transport and travel affairs
• Policy Area:
  • Mergers
• Summary

  The Icelandic Competition Authority (ICA) has reviewed a merger between AerCap Holdings N.V. and LEase Finance Corporation. This merger came about with AerCap Holdings N.V.´s acquisition of all shares in International Lease Finance Corporation. Both parties operate mainly in the market for aircraft operating leasing, whereby they supply airlines with aircrafts through sale and leaseback transactions whereby the lessor purchases the aircraft from the airline and then leases it back. AerCap and ILFC both operate in Iceland and provide services to Icelandic airlines. The ICA´s investigation has concluded that the merger of AerCap and ILFC will not result in a substantial lessening of competition in the aircraft operating leasing market. This also applies to the market here in Iceland. Therefore, th ICA has deemed that there is no reason to intervene in this merger on the basis of Article 17c of the Icelandic Competition Act.