AerCap Signs Sale and Leaseback Agreement for One New Boeing 787-9 Aircraft with New Customer TAAG Angola Airlines

Rhea-AI Summary

AerCap Holdings N.V. (NYSE: AER) has announced a sale and leaseback agreement with TAAG Angola Airlines for one new Boeing 787-9 aircraft, scheduled for delivery in February 2025. This marks TAAG's first 787 acquisition through a lessor and represents a significant step in the airline's fleet modernization program.

The agreement aims to help TAAG expand its network across Africa, Europe, and Asia using one of the market's most fuel-efficient widebody aircraft. The deal is notable as it establishes TAAG Angola Airlines as a new customer for AerCap and introduces the 787 model to TAAG's fleet.

Positive

• New customer acquisition expanding AerCap's market presence in Africa
• Sale and leaseback agreement for a high-value Boeing 787-9 aircraft
• Secured contract with a national carrier, potentially leading to future deals

Negative

• None.

DUBLIN, Dec. 27, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed a sale and leaseback agreement for one new Boeing 787-9 aircraft with TAAG Angola Airlines ("TAAG"), the national carrier of Angola. The aircraft is scheduled to deliver to TAAG in February 2025.

"We are pleased to welcome TAAG Angola Airlines as a new customer to AerCap and particularly pleased to be the first lessor to introduce the 787 to the airline," said Aengus Kelly, the CEO of AerCap. "As part of their fleet modernization program, the 787 will enable TAAG expand their network across Africa, Europe and Asia with one of the most fuel-efficient widebody aircraft on the market and support them in meeting customer demand. We look forward to a long and fruitful relationship with the TAAG team."

Nelson de Oliveira, CEO of TAAG, said, "This agreement with AerCap represents an important milestone for us, being an essential step towards the modernization of our fleet. The introduction of the Boeing 787-9 reinforces our commitment to efficiency and leading sustainability standards, while leveraging our ability to connect Angola with key international destinations. TAAG is committed to offering passengers a comfortable travel experience thus optimizing operational costs and providing greener environmental mobility solutions."

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 TAAG Angola Airlines

TAAG Angola Airlines is the leading airline in the country and is recognized worldwide for its strong high-yield market, having grown its current network to 12 domestic and 11 international destinations. In addition to passenger transport, TAAG offers air cargo services which have become essential for Angola's growth and development. TAAG is a company that prides itself on a strong track record of service and performance excellence. For more information about TAAG Angola Airlines, visit: www.taag.com  

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, 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.

 

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SOURCE AerCap Holdings N.V.

FAQ

When will AerCap deliver the Boeing 787-9 aircraft to TAAG Angola Airlines?

The Boeing 787-9 aircraft is scheduled for delivery to TAAG Angola Airlines in February 2025.

What type of agreement did AerCap (AER) sign with TAAG Angola Airlines?

AerCap signed a sale and leaseback agreement for one new Boeing 787-9 aircraft with TAAG Angola Airlines.

How will the Boeing 787-9 benefit TAAG's operations according to the agreement with AER?

The Boeing 787-9 will enable TAAG to expand their network across Africa, Europe, and Asia with a fuel-efficient widebody aircraft while meeting customer demand.

Is this AerCap's (AER) first deal with TAAG Angola Airlines?

Yes, this is AerCap's first deal with TAAG Angola Airlines, making TAAG a new customer for AerCap.