AerCap Completed the GECAS Transaction, Raised Funding of Approximately $30.5 Billion and Executed 438 Transactions in 2021

Rhea-AI Summary

AerCap Holdings N.V. (NYSE: AER) announced significant business developments for 2021, including the completion of the GECAS acquisition on November 1, 2021, establishing it as a leader in aviation leasing. The company raised approximately $30.5 billion in long-term funding during the year, with $24 billion dedicated to the GECAS transaction. AerCap signed 311 lease agreements and executed 438 transactions in total. Additionally, its MSCI ESG rating improved to 'A' from 'BBB'. CEO Aengus Kelly expressed optimism about recovering airline traffic and future business opportunities.

Positive

• Completed GECAS transaction on November 1, 2021, enhancing market position.
• Raised approximately $30.5 billion in long-term funding in 2021.
• Executed 438 transactions, including 311 lease agreements, indicating strong demand.
• Improved ESG rating from 'BBB' to 'A', reflecting better sustainability practices.

Negative

• None.

DUBLIN, Jan. 17, 2022 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap") (NYSE: AER) has announced its major business transactions during the full year and fourth quarter 2021:

• Completed the GECAS transaction on November 1, 2021, making AerCap the worldwide industry leader across all areas of aviation leasing: aircraft, engines and helicopters.
• In December 2021, AerCap received an MSCI ESG Rating of "A," an improvement from our previous ESG rating of "BBB."

Aengus Kelly, Chief Executive Officer of AerCap, said, "Throughout 2021, we saw a steady improvement in the performance of the airline industry as borders reopened to travel and passenger traffic increased. For AerCap, this manifested itself in an increased level of transaction activity due to the growing demand for aircraft. I am optimistic that we will see further increases in passenger traffic during 2022 as the recovery continues.

"I am delighted that we successfully completed the acquisition of the GECAS business during the fourth quarter. Our ability to raise $24 billion of long-term funding for the acquisition at very attractive rates illustrates the depth of investor interest in aircraft leasing and is a testament to AerCap's platform and its strong management team.

"Another important milestone during the quarter was the upgrade of our ESG rating by MSCI. In addition, our Board of Directors has established an ESG Committee to further strengthen our commitment in this area."

Full Year 2021 Transactions

• Raised long-term funding of approximately $30.5 billion, including $24 billion in the fourth quarter to finance the GECAS acquisition.
• Signed 311 lease agreements.
• Completed 65 purchases.
• Executed 62 sale transactions.

Fourth Quarter 2021 Transactions

• Signed 158 lease agreements, including 19 widebody aircraft and 92 narrowbody aircraft, 27 engines and 20 helicopters.
• Completed 42 purchases for 29 aircraft (including 16 Airbus A320neo Family aircraft, 1 Airbus A220 aircraft and 5 Boeing 737 MAX aircraft for AerCap's owned aircraft portfolio and 7 aircraft for AerCap's managed aircraft portfolio), 5 engines and 8 helicopters.
• Executed 30 sale transactions for 23 aircraft (including 5 Airbus A320 Family aircraft, 2 Airbus A320neo Family aircraft, 5 Boeing 737NGs, 4 Boeing 757s, 2 Boeing 737 MAX aircraft and 1 Boeing 767-300ER from AerCap's owned aircraft portfolio and 4 aircraft from AerCap's managed aircraft portfolio), 4 engines and 3 helicopters.

The full year and fourth quarter numbers include transactions of the combined company for the period after closing of the GECAS acquisition on November 1, 2021. Transactions prior to closing are only included for AerCap on a stand-alone basis.

About AerCap

AerCap is the global leader in aviation leasing with a portfolio of over 3,500 aircraft, engines and helicopters. 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, Amsterdam, Shanghai, Abu Dhabi, Seattle, Toulouse and other locations around the world.

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," "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 Covid-19 pandemic, our ability to successfully integrate GECAS' operations and employees and realize anticipated synergies and cost savings; and the potential impact of the consummation of the GECAS transaction on relationships, including with employees, suppliers, customers and competitors, 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 was the significance of the GECAS acquisition for AerCap?

The GECAS acquisition, completed on November 1, 2021, positioned AerCap as a global leader in aircraft leasing.

How much funding did AerCap raise for the GECAS acquisition?

AerCap raised approximately $24 billion in long-term funding specifically for the GECAS acquisition.

What was AerCap's ESG rating improvement in 2021?

AerCap's ESG rating improved from 'BBB' to 'A' in December 2021.

How many lease agreements did AerCap sign in 2021?

AerCap signed a total of 311 lease agreements in 2021.

What were AerCap's total transactions in 2021?

AerCap executed a total of 438 transactions during the year 2021.