GECAS (GE Capital Aviation Services, though the acronym is the more common usage) is a unit of GE Capital, itself part of the large conglomerate General Electric. The president of GECAS is Norman Liu. GECAS is responsible for the leasing of aircraft and associated equipment to airlines. GECAS buys aircraft from manufacturers like Airbus and Boeing and then leases them to airlines, typically on three to five year leases, usually on dry lease contracts. It also buys aircraft from airlines and leases them back. The company has two global headquarters, located in Shannon, Ireland and Stamford, CT.
The primary competition for GECAS is ILFC, although other companies such as Aviation Capital Group, AerCap, Babcock & Brown Aircraft Management and RBS Aviation Capital also compete with it. GECAS is the largest aircraft lessor in the world by fleet size according to the 2005 Airfinance Journal Operating Lessor Survey.