AerCap

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AerCap Holdings N.V.
TypePublic
NYSE: AER
IndustryAircraft leasing
FoundedApril 1995 (1995-04) In United States
Headquarters
Dublin
,
Ireland
Key people
  • Aengus Kelly CEO
  • Peter Anderson CCO
  • Pete Juhas CFO
  • Vincent Drouillard GC
RevenueUS$ 4,937 million (2019)[1]
US$ 1,145.7 million (2019) [1]
Total assetsUS$ 47 billion (2019) [2]
Total equityUS$ 9.5 billion (2019) [2]
Number of employees
390 (2019) [3]
ParentAerCap Holdings N.V.
Websitewww.aercap.com

AerCap is the world's largest aircraft leasing company after acquiring International Lease Finance Corporation in 2014.[4] As of June 2020, AerCap had 1,035 owned, managed aircraft in its portfolio.[5] AerCap serves over 200 customers in approximately 80 countries with comprehensive fleet services. AerCap is listed on the New York Stock Exchange (AER) and has its headquarters in Dublin, and further offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai and Abu Dhabi. It also has representative offices at the world's largest aircraft manufacturers, Boeing in Seattle and Airbus in Toulouse.[6]

On December 16, 2013, AerCap bought International Lease Finance Corporation (ILFC) for around $5.4 billion, $3 billion of which was paid by cash and the rest with newly issued AerCap common shares. The deal gave AerCap $43 billion in total assets and a fleet of over 1,300 aircraft, compared to GE Capital Aviation Services with a fleet of 1,800+ aircraft.

2015[]

In June 2015, AerCap signed an agreement with Boeing for an order of 100 Boeing 737 MAX 8 aircraft with deliveries starting in 2019.[7] In June 2015, AIG sold about 71.2 million shares in a public offering and AerCap purchased an additional 15.7 million of its shares from AIG.[8] In August 2015, AIG completed its departure from the airplane-leasing business with the sale of the additional 10.7 million shares.[9]

As of December 31, 2015, AerCap's portfolio consisted of 1,697 aircraft that were owned, on order, under contract or managed (including aircraft owned by AerDragon, a non-consolidated joint venture). The average age of the owned fleet as of December 31, 2015 was 7.7 years and the average remaining contracted lease term was 5.9 years.[6] In 2015, AerCap leased, purchased and sold 405 aircraft. The company signed lease agreements for 276 aircraft and purchased 46 new aircraft. AerCap executed sale and part-out transactions for 83 aircraft and signed financing transactions for US$7.3 billion.[10] On February 23, 2016, AerCap reported record 2015 financial results and authorized a share repurchase program of $400 million.[11]

2016[]

In January 2016, Airline Economics recognized the company with "Lessor of the Year" and "Treasury Team of the Year" awards.[12]

In 2016, AerCap signed lease agreements for 279 aircraft, purchased 38 and sold 141 aircraft, and signed financing transactions for $4.6 billion; as of December 31, 2016, it has 1,566 owned, managed or on order aircraft in its portfolio.[13]

2017[]

In June 2017, Aercap placed an order for 30 Boeing 787-9s, valued at $8.1 billion at list prices at the Paris Air Show.[14] AerCap announced on 28 December that it exercised options to purchase 50 A320neo Family aircraft to be delivered from 2022, bringing its A320neo Family portfolio to 270 owned and on order.[15]

2021[]

In March 2021, Aercap announced they had reached a deal with GE to acquire GE Capital Aviation Services (GECAS) for US$24 billion in cash, US$1 billion of AerCap notes and approximately 46% of the combined business in shares.[16] The acquisition was approved by AerCap shareholders in May 2021, but remains subject to regulatory approvals.

In March 2021, AerCap signed a deal with start-up long-haul, low-cost airline Norse Atlantic Airways, for the lease of six used Boeing 787-9s and three used Boeing 787-8 aircraft.[17]

References[]

  1. ^ Jump up to: a b "Press Releases — AerCap". www.aercap.com. Retrieved July 16, 2020.
  2. ^ Jump up to: a b www.aercap.com (PDF) https://www.aercap.com/media/2739/aercap_fact_sheet_2q_7-7-20.pdf. Retrieved July 16, 2020. Missing or empty |title= (help)
  3. ^ www.aercap.com (PDF) https://d1io3yog0oux5.cloudfront.net/_9bbbb369aa60f2f4c9b092af49ac39d6/aercap/db/493/4045/pdf/AerCap+Holdings+N.V.+20-F+2019+Filing.pdf. Retrieved July 16, 2020. Missing or empty |title= (help)
  4. ^ "Boeing, AerCap said to be negotiating on 100-jet 737 MAX order". The Seattle Times. June 12, 2015.
  5. ^ https://www.aercap.com/media/2739/aercap_fact_sheet_2q_7-7-20.pdf[bare URL]
  6. ^ Jump up to: a b "AerCap Holdings N.V. 2019 20-F Filing" (PDF). www.aercap.com. Retrieved July 16, 2020.
  7. ^ "Boeing, AerCap Announce Order for 100 737 MAX 8s - Jun 16, 2015". boeing.mediaroom.com. Archived from the original on March 4, 2016. Retrieved February 25, 2016.
  8. ^ Basak, Sonali (June 3, 2015). "AIG Raises $3.7 Billion in Cash From Sales of AerCap Stock". Bloomberg.com.
  9. ^ Basak, Sonali. "AIG Raises $500 Million Selling AerCap Stock to Exit Stake". Bloomberg.com. Retrieved February 25, 2016.
  10. ^ "AerCap Leased, Purchased and Sold 405 Aircraft in 2015". EuroInvestor. Archived from the original on March 5, 2016. Retrieved February 25, 2016.
  11. ^ "AerCap reports record 2015 financial results and authorizes share repurchase program of $400 million | Aviation News - daily news dedicated to the global aviation industry". www.aviationnews-online.com. Retrieved February 25, 2016.
  12. ^ "Recent Awards — AerCap". www.aercap.com. Retrieved February 25, 2016.
  13. ^ "AerCap Leased, Purchased and Sold 458 Aircraft in 2016" (Press release). AerCap. January 16, 2017.
  14. ^ "Aercap places firm order for 30 Boeing 787-9s". ATW. June 19, 2017.
  15. ^ "AerCap Exercises Options to Purchase 50 Airbus A320neo Family Aircraft" (Press release). AerCap. December 28, 2017.
  16. ^ "AerCap to Acquire GE Capital Aviation Services" (Press release). AerCap. March 10, 2021.
  17. ^ "Media | AerCap". www.aercap.com. Retrieved August 5, 2021.

External links[]

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