AerCap Acquires Five General Electric GE90 Engines from Sanad

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AerCap Holdings N.V. (NYSE: AER) announces the acquisition of five General Electric GE90-115B engines from Sanad, a subsidiary of Mubadala Investment Company PJSC, at the Dubai Airshow 2023. This strategic move aims to meet the increasing leasing demand and aligns with AerCap's portfolio management and capital allocation strategy.

DUBAI, UAE, Nov. 14, 2023 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the successful acquisition of five General Electric GE90-115B engines from Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala). This significant transaction was announced at the Dubai Airshow 2023.

"We are very pleased to work with Sanad on this transaction," said Tom Slattery, EVP AerCap Engines. "The addition of these GE-90 engines to our portfolio will enable us to support the strong demand in leasing activity we are seeing from our customers. We thank the team at Sanad for their partnership and look forward to future collaborations between our two companies."

"This transaction is in line with our portfolio management and capital allocation strategy," said Kashish Kohli, Sanad Group Chief Financial Officer, and SVP of the Sanad Leasing Division. "This successful deal not only strengthens our relationship with AerCap but also highlights the synergies between our organizations. We look forward to building on this momentum and exploring further avenues of cooperation with AerCap."

About AerCap
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.

About Sanad
Sanad Group (Sanad) is a global aerospace engineering and leasing solutions leader based in Abu Dhabi and wholly owned by Mubadala Investment Company PJSC. With more than 35 years of operational experience, Sanad supports leaders in commercial aviation with world-class maintenance, repair, and overhaul (MRO) services and financing solutions. Visit us at www.sanad.ae. Follow us on Instagram, Facebook and LinkedIn @TheSanadGroup

Forward-Looking Statements

This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements". In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "will," "aim," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors, including the impacts of, and associated responses to: the Ukraine Conflict, the Covid-19 pandemic, that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.com and follow us on Twitter www.twitter.com/aercapnv.

 

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SOURCE AerCap Holdings N.V.

FAQ

What did AerCap announce at the Dubai Airshow 2023?

AerCap announced the successful acquisition of five General Electric GE90-115B engines from Sanad, a subsidiary of Mubadala Investment Company PJSC.

Who is the EVP of AerCap Engines?

Tom Slattery is the EVP of AerCap Engines.

What is the significance of the transaction?

The addition of these GE-90 engines to AerCap's portfolio will enable them to support the strong demand in leasing activity from their customers.

Who is the Sanad Group Chief Financial Officer and SVP of the Sanad Leasing Division?

Kashish Kohli is the Sanad Group Chief Financial Officer and SVP of the Sanad Leasing Division.

What is the purpose of the transaction according to Kashish Kohli?

Kashish Kohli stated that the transaction strengthens the relationship with AerCap and highlights the synergies between the organizations, aligning with their portfolio management and capital allocation strategy.