Buyout firm Apollo eyes deal for GE's aircraft leasing unit: sources

Private equity firm Apollo Global Management is working on an offer to acquire General Electric’s aircraft leasing operations, which are worth as much as $40b, people familiar with the matter said Friday. Apollo’s bid comes as GE’s new CEO, Larry Culp, is battling to restore profits and slash debt after the industrial conglomerate lost $22.8b in Q3, mostly from its ailing power unit. Apollo’s offer could put pressure on GE to also sell the aircraft unit, known as GE Capital Aviation Services. <br/>