General Electric nears deal to combine its Aircraft-Leasing Unit with Irish lessor AerCap

They are not merging the two operations, they are shedding the leasing business along with other what management considers "non-core" business units. Light bulbs, appliances, and locomotives are already gone. Now they want to do a reverse split of shares, which is usually a desperate attempt to remain listed on the stock exchange.

If smaller airlines don't have a "rich uncle" to purchase the airplanes they need to operate and compete you will find the majors taking profitable routes, and leaving some areas unserved.