GE sells aviation lending unit

General Electric Co. took another step to shrink its financial services unit Thursday by agreeing to sell its aircraft lending business to private equity giant Apollo Global Management LLC and financial firm Athene Holding Ltd.

The business, PK AirFinance, makes loans that are secured by commercial aircraft, aircraft engines and helicopters. It is part of GE Capital, with offices around the world, including a U.S. office in Norwalk, Conn.

The Boston-based company (NYSE: GE) did not disclose the…

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