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AerCap Holdings N.V. (NYSE: AER) is a leading global aviation leasing company offering comprehensive fleet solutions to approximately 300 airline customers worldwide. With its headquarters in Dublin and offices across major cities such as Amsterdam, Los Angeles, Singapore, and Shanghai, AerCap provides unparalleled services in leasing, financing, sales, and management of commercial aircraft and engines.
The company's extensive portfolio includes one of the world鈥檚 largest fleets of modern, fuel-efficient aircraft. AerCap's robust long-term capital structure supports its strong profitability and cash flow. The firm is renowned for its high-quality assets, including a significant order book for new, technologically advanced aircraft that meet the industry's stringent emission standards.
Recent achievements highlight AerCap's proactive approach to market demands and sustainability. In 2024, the company signed 82 lease agreements, completed 21 aircraft purchases, and sold 49 assets. Additionally, AerCap has committed to buying 150 new CFM LEAP engines, emphasizing its focus on fuel efficiency and environmental responsibility.
AerCap's financial health is solid, demonstrated by its 2024 first-quarter net income of $604 million and strong adjusted earnings per share. The company also announced a new $500 million share repurchase program and initiated a quarterly dividend, reflecting its confidence in future cash flows and commitment to shareholder value.
Furthermore, AerCap is dedicated to ESG principles, as evidenced by its seventh annual ESG Report. The report details the company's advancements in fleet modernization, emissions reduction, and social governance initiatives, underscoring its role in promoting sustainable aviation.
Overall, AerCap continues to lead the aviation leasing industry, leveraging its strategic partnerships, innovative solutions, and strong financial foundation to meet the evolving needs of the global aviation market.
AerCap Holdings N.V. (NYSE: AER) has announced the signing of lease agreements with Azerbaijan Airlines (AZAL) for six new Airbus A320NEO family aircraft. The deal includes three A320neos and three A321neos, all powered by CFM LEAP engines, scheduled for delivery in 2026.
Peter Anderson, Chief Commercial Officer of AerCap, expressed delight in welcoming AZAL as a new customer and highlighted the A320neo and A321neo as highly desirable aircraft that will support AZAL's fleet modernization and network expansion. Samir Rzayev, AZAL President, emphasized that these leases will significantly expand their fleet replacement, particularly with the popular A321neo, aiming to enhance passenger comfort and expand their route network.
AerCap Holdings N.V. (NYSE: AER) has announced a new $500 million share repurchase program, running through March 31, 2025. This is in addition to the $105 million remaining from a previous program announced in May 2024. The total share repurchase authorizations since March 2023 now amount to $4.4 billion.
CEO Aengus Kelly expressed confidence in the company's aircraft values and outlook, stating that share repurchases are viewed as an attractive use of capital. The program will be funded using cash on hand and cash generated from operations, with the timing and number of shares to be purchased determined by management based on market conditions and other factors.
AerCap Holdings N.V. (AER) has announced the pricing of $2.4 billion in senior notes through its subsidiaries. The offering consists of $1.3 billion in 4.625% Senior Notes due 2029 and $1.1 billion in 4.950% Senior Notes due 2034. These notes will be fully guaranteed by AerCap and certain subsidiaries. The net proceeds will be used for general corporate purposes, including aircraft asset acquisition, investment, financing, and debt repayment.
The offering is being managed by several prominent financial institutions. AerCap has filed a registration statement with the SEC, which became effective on October 19, 2021. Investors are advised to review the prospectus and related documents for complete information about the company and the offering.
AerCap Holdings N.V. (NYSE: AER) has announced the filing of its interim financial report for the second quarter of 2024. The report, which includes unaudited condensed consolidated financial statements and notes for the quarter ended June 30, 2024, has been submitted to the U.S. Securities and Exchange Commission (SEC). Investors can access AerCap's Form 6-K on the company's website under the 'Investors' section or directly on the SEC's website. This filing provides stakeholders with the latest financial information and performance metrics for the global leader in aircraft leasing.
AerCap Holdings N.V. (NYSE: AER) has announced the delivery of the first three out of fifteen new Airbus A321neo aircraft to AirAsia Group on long-term lease. The remaining 12 aircraft are scheduled for delivery in 2024 and 2025. This delivery marks a significant milestone for AirAsia, bringing their operational fleet to 200 aircraft.
AirAsia hosted a special ceremony at their corporate headquarters in Malaysia to celebrate this event. The A321neo aircraft are expected to enhance AirAsia's route network, offer longer-range flights, and improve operational efficiency. AirAsia anticipates its fleet to exceed 300 aircraft within the next five years, with the aim of carrying over 100 million guests annually.
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.