AerCap Repurchased Approximately 20 Million Shares and Leased, Purchased and Sold 219 Assets in the Third Quarter 2023

Rhea-AI Summary

AerCap announces major business transactions in Q3 2023

Positive

• AerCap repurchased 20 million shares for $1.2 billion
• AerCap signed 134 lease agreements
• AerCap completed 33 purchases for new aircraft
• AerCap executed 52 sale transactions
• AerCap signed financing transactions for $3.9 billion

Negative

• None.

DUBLIN, Oct. 9, 2023 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap") (NYSE: AER) has announced its major business transactions during the third quarter 2023:

• Repurchased approximately 20 million shares, at an average price of $58.25 per share, for a total of approximately $1.2 billion.
• Signed 134 lease agreements, including 24 widebody aircraft, 62 narrowbody aircraft, 25 engines and 23 helicopters.
• Completed 33 purchases for 19 new aircraft (including 14 Airbus A320neo Family aircraft, 2 Airbus A330neos and 3 Boeing 737 MAX aircraft for AerCap's owned aircraft portfolio), 9 engines and 5 helicopters.
• Executed 52 sale transactions for 12 aircraft (including 3 Airbus A320 Family aircraft, 2 Airbus A320neo Family aircraft, 3 Airbus A330s, 2 Boeing 757s and 1 Boeing 737NG from AerCap's owned aircraft portfolio and 1 aircraft from AerCap's managed aircraft portfolio), 37 engines and 3 helicopters.
• Signed financing transactions for approximately $3.9 billion.

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.

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 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, including, among other things, the availability of capital to us and to our customers and changes in interest rates; the ability of our lessees and potential lessees to make lease payments to us; our ability to successfully negotiate flight equipment (which includes aircraft, engines and helicopters) purchases, sales and leases, to collect outstanding amounts due and to repossess flight equipment under defaulted leases, and to control costs and expenses; changes in the overall demand for commercial aviation leasing and aviation asset management services; the continued impacts of the Ukraine Conflict, including the resulting sanctions by the United States, the European Union, the United Kingdom and other countries, on our business and results of operations, financial condition and cash flows; the rate of recovery in air travel related to the Covid-19 pandemic, the aviation industry and global economic conditions; the potential impacts of the pandemic and responsive government actions on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and on our operations; the economic condition of the global airline and cargo industry and economic and political conditions; development of increased government regulation, including travel restrictions, sanctions, regulation of trade and the imposition of import and export controls, tariffs and other trade barriers; a downgrade in any of our credit ratings; competitive pressures within the industry; regulatory changes affecting commercial flight equipment operators, flight equipment maintenance, engine standards, accounting standards and taxes.

As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in AerCap's annual report on Form 20-F and other filings with the SEC. 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 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 were the major business transactions of AerCap in Q3 2023?

AerCap repurchased 20 million shares, signed 134 lease agreements, completed 33 purchases for new aircraft, executed 52 sale transactions, and signed financing transactions for $3.9 billion.

How many shares did AerCap repurchase and at what price?

AerCap repurchased approximately 20 million shares at an average price of $58.25 per share.

What was the total value of shares repurchased by AerCap?

The total value of shares repurchased by AerCap was approximately $1.2 billion.

What types of transactions were included in the lease agreements?

The lease agreements included 24 widebody aircraft, 62 narrowbody aircraft, 25 engines, and 23 helicopters.

How many new aircraft did AerCap purchase?

AerCap purchased 19 new aircraft, including 14 Airbus A320neo Family aircraft, 2 Airbus A330neos, and 3 Boeing 737 MAX aircraft.

How many sale transactions did AerCap execute?

AerCap executed 52 sale transactions for 12 aircraft, 37 engines, and 3 helicopters.

What was the value of the financing transactions signed by AerCap?

AerCap signed financing transactions for approximately $3.9 billion.