Aercap Holdings N.V. - AER STOCK NEWS

AerCap Holdings N.V. (NYSE: AER) reported strong Q2 2024 financial results, with net income of $448 million ($2.28 per share) and adjusted net income of $592 million ($3.01 per share). The company is raising its full-year 2024 adjusted EPS guidance from $9.20 to $10.25. Highlights include:

- Return on equity of 11% and adjusted ROE of 14% for Q2 2024
- Agreement with Airbus to purchase 36 A320neo Family aircraft
- Adjusted debt/equity ratio of 2.4 to 1
- Initiated quarterly dividend of $0.25 per share
- Credit ratings upgraded by Moody's and S&P
- $345 million returned to shareholders through share repurchases
- Book value per share increased 25% YoY to $89.47

AerCap Holdings N.V. (NYSE: AER) has welcomed new Mississippi taxation legislation, House Bill 1855, which exempts sales tax for the lease or retail transfers of fixed-wing aircraft, engines, accessories, and spare parts. The bill was enacted on April 25, 2024, and ceremonially signed by Governor Tate Reeves on July 8, 2024.

Aimee Craig, CEO of AerCap Materials, stated that this legislation aligns Mississippi with other states offering similar exemptions, allowing AerCap to improve efficiency in dismantling and offer more competitive pricing. The new law also supports AerCap's ESG strategy by facilitating the recycling of parts from older aircraft, extending their useful life.

AerCap Holdings announced an agreement to lease ten new Airbus A321neo aircraft to Turkish Airlines. This move supports Turkish Airlines' efforts to modernize its fleet and improve operational efficiency, while expanding its route network. AerCap's CEO, Aengus Kelly, expressed satisfaction with the collaboration, emphasizing the long-term partnership with Turkish Airlines. Turkish Airlines' Chairman, Prof. Ahmet Bolat, highlighted the alignment with their strategy to enhance passenger experience and expand routes. The financial details of the lease agreement were not disclosed.

AerCap Holdings N.V. announced the pricing of $750 million aggregate principal amount of Fixed-Rate Reset Junior Subordinated Notes due 2055, with an initial interest rate of 6.950% per annum.

The interest rate will reset every five years starting March 10, 2030, based on the five-year U.S. Treasury rate plus a 2.720% spread. The Notes will be guaranteed on an unsecured junior subordinated basis by AerCap and certain subsidiaries.

Proceeds from the Notes may be used for general corporate purposes, including potentially redeeming the company's outstanding Fixed-Rate Reset Junior Subordinated Notes due 2079 on October 10, 2024. J.P. Morgan, Mizuho, Goldman Sachs & Co. , and Santander are the joint book-running managers for the offering. The company has filed a registration statement with the SEC for this offering.

AerCap Holdings has announced it will release its second quarter 2024 financial results on August 1, 2024. A conference call and webcast for investors and analysts will take place at 8:30 a.m. Eastern Time on the same day. The earnings press release, along with the presentation slides for the call, will be available on AerCap's website before the U.S. financial markets open. Investors can access the live call by dialing specific numbers or visiting AerCap's website. The webcast replay will be archived on AerCap's website for one year.

AerCap Holdings announced significant transactions for Q2 2024. The company signed 162 lease agreements, including 6 widebody and 88 narrowbody aircraft, 47 engines, and 21 helicopters. It completed 47 purchases, including 25 aircraft and 20 engines, adding to its portfolio various models such as Airbus A220, A320neo, A330neo, Boeing 737 MAX, 787-9, and Embraer E195-E2.

AerCap also executed 37 sales, disposing of 29 aircraft and 7 engines. These transactions included Airbus A320, A330, Boeing 737NG, 737 MAX, 777-300ER, and Embraer E190 models. Additionally, the company repurchased around 3.9 million shares for $345 million and paid a quarterly dividend of $0.25 per share. AerCap signed new financing deals worth approximately $3.6 billion.

AerCap Holdings announced lease agreements for four 737-800 Boeing Converted Freighter (BCF) aircraft with JD Airlines, a subsidiary of JD Logistics.

The aircraft are scheduled for delivery in 2024 and will operate from Nantong Xingdong International Airport, connecting major economic hubs in China and across Asia.

This agreement expands AerCap's existing relationship with JD Airlines, which currently leases three 737-800 BCF aircraft from AerCap.

AerCap Cargo, with over 30 years in freighter leasing and more than 100 successful Passenger-to-Freighter conversions, emphasizes the importance of this agreement in meeting the increasing demand for e-commerce and express deliveries.

AerCap Holdings N.V. announced a significant engine order for 150 new CFM LEAP engines valued at around $3 billion. They also introduced a new $500 million share repurchase authorization and their first cash dividend of $0.25 per share. These initiatives reflect AerCap's confidence in future profits and cash flows, emphasizing value creation for shareholders.

AerCap Holdings N.V. has filed an interim financial report for the first quarter of 2024. The report includes unaudited condensed consolidated financial statements and notes. The Form 6-K can be accessed on the Company's website and the SEC's website.