AerCap Delivers Four New Airbus A321neo Aircraft to Air India

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Very Positive)

Tags

05/18/2023 - 07:00 AM

- First lessor to lease aircraft to Air India under new Tata Group ownership

DUBLIN, May 18, 2023 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has completed a mandate for the lease of four new Airbus A321neo aircraft with Air India, the flag carrier of India, following the delivery of the fourth aircraft.

The aircraft, powered by CFM LEAP-1A engines, are the first A321neo aircraft to be inducted into the Air India fleet.

"It is a very exciting time for Air India as it returns to Tata Group ownership and transitions its fleet to meet the rapidly growing Indian aviation market. AerCap is delighted to play a role in Air India's fleet transformation by providing its first tranche of NEO aircraft on operating lease," said Peter Anderson, the Chief Commercial Officer of AerCap. "We wish Air India and the Tata Group every success as they restore Air India to one of the world's leading airlines."

Nipun Aggarwal, Chief Commercial & Transformation Officer, Air India, said: "These four new, leased Airbus A321neo aircraft join our fast-growing fleet as part of the sweeping transformation in progress at Air India. We look forward to continuing our very successful partnership with AerCap as we go along in our continuing effort to build Air India as one of the world's finest airlines."

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 Air India

Founded by the legendary JRD Tata, Air India pioneered India's aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia, and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five-year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart.

About the Tata Group

Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The Group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'.

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.