Previously, GECAS had a policy of exclusively selecting GE engines for 99% of its airliners, and had only eight Boeing 757s with Pratt & Whitney or Rolls-Royce turbofans.

[5] However, the company finally leased the first A350 operated by Qatar Airways to diversify assets and reduce risk.

By 1996, the company owned the world's largest leased fleet, and place its first speculative OEM order.

GECAS also owns a minority stake in Oxford Aviation Academy retained when it sold 80% (before dilution) of GECAT to Star Capital Partners in 2007.

In 2015, GECAS took over the Irish-based Milestone Aviation Group to add helicopters and rotary aircraft to its leasing portfolio.

[9] In 2016, GECAS was ranked as "World's Top Lessor" by AirFinance Journal and Airline Economics magazines.

In September 2018, GE hired Goldman Sachs to review GECAS' strategy as its portfolio value declined since 2012 from $34.1 to $23.6 billion, evaluating a full sale or a company break-up like Guinness Peat Aviation from which it emerged in 1993.

Through its Milestone Aviation Group, GECAS also owns and leases AgustaWestland, Sikorsky and Airbus Eurocopter helicopters.

[15] GECAS previously operated AviaSolutions, which provided aircraft consultancy services to airports, investors and financial institutions, governments and airlines.

For the first quarter of 2021, in connection with signing the transaction agreement, GE will record an approximate $3 billion non-cash charge and report GECAS as a discontinued operation.