AerCap Holdings N.V. Announces First Quarter 2009 Transactions
AMSTERDAM, Apr. 10 /PRNewswire-AsiaNet/ --
AerCap Holdings N.V. ("AerCap," "the Company", NYSE: AER) today announced
the completion of the following transactions during the first quarter 2009:
-- Signed new lease agreements for two aircraft,
-- Delivered 13 aircraft and eight engines under lease agreements,
-- Purchased ten aircraft and four engines,
-- Sold one aircraft and four engines,
-- Disassembled four aircraft and five engines.
Transaction Overview First Quarter 2009
Owned Managed Total
Lease Agreements
Aircraft (Contracts) 2 NA 2
Aircraft (LOI's) 6 NA 6
Deliveries
Aircraft 10 3 13
Engines 8 NA 8
Purchases
Aircraft (Closed) 10 NA 10
Engines (Closed) 4 NA 4
Engines (Contract Signed, to be Delivered) 1 NA 1
Aircraft (Contract Signed, to be Delivered) 4 NA 4
Sales
Aircraft (Closed) 0 1 1
Engines (Closed) 4 NA 4
Aircraft (LOI's) 2 2 4
Engines (LOI's) NA NA NA
AerCap's CEO Klaus Heinemann commented: "Though the first quarter of 2009
has seen one of the worst economic environments for the aviation industry, most
airlines have shown a remarkable resilience to these conditions. In the first
quarter, AerCap delivered 13 aircraft and eight engines, all as scheduled, and
did not repossess any aircraft. All but one of our aircraft repossessed in 2008
-- five from the second quarter, three from the third quarter and one from the
last quarter -- are now generating revenues again with new airline clients. We
expect the aircraft recovered in the fourth quarter to begin generating
revenues in June. During the first quarter 2009, AerCap also continued to
successfully access the credit markets by contracting new debt facilities
amounting to $930 million."
Klaus Heinemann added: "Towards the end of the first quarter, we noticed a
significant renewal of airline interest in contracting new capacity for 2010
and beyond. This trend has continued to date."
Lease Activities: Contracts Signed for Two Aircraft and Eight Engines
New Lease Agreements
AerCap signed two new lease agreements for aircraft in the first quarter
2009:
-- One Airbus A320 for XL Airways (France),
-- One Boeing B737-800 for PT Garuda Indonesia (Indonesia).
The average term of the two lease agreements for used aircraft signed
during the first quarter was 51.5 months. AerCap also executed letters of
intent (signed and deposit paid by lessee) for three new and three used
aircraft leases with an average lease term of 104 months for new aircraft and
40 months for used aircraft.
AerCap entered into eight engine lease agreements in the first quarter and
delivered the engines to the lessees in the same period. All eight leased
engines were CFM-56.
Deliveries
AerCap completed 13 aircraft deliveries in the first quarter under
previously contracted lease agreements:
-- Two new Airbus A319s for Royal Jordanian Airlines (Jordan),
-- Two new Airbus A320s for Aeroflot-Russian Airlines (Russia),
-- One new Airbus A320 for Air France (France),
-- One new Airbus A320 for TAP (Portugal),
-- One new Airbus A320 for Aegean Airlines (Greece),
-- One new Airbus A320 for Spring Airlines (China),
-- One Airbus A320 for XL Airways (France),
-- Two Boeing B737-500s for Aeroflot-Nord (Russia),
-- One Boeing B767 for Aeromexico (Mexico),
-- One Boeing B767 for North American Airlines (USA).
Purchase Activities: Ten Aircraft Acquired
During the first quarter, AerCap acquired eight new Airbus A320s under
existing commitments with Airbus. In addition, AerCap acquired two older Boeing
B767 for further resale by its subsidiary AeroTurbine.
AerCap expanded its engine pool with the acquisition of three CFM-56
engines and one PW4060 engine in the first quarter.
Sales Activities: One Aircraft Sold
AerCap closed one aircraft sales transaction for a McDonnell Douglas MD82
from its managed portfolio and four engine sales transactions for CFM-56
engines from its owned engine pool in the first quarter 2009. In April 2009,
AerCap also sold two Airbus A321s from its owned portfolio.
Portfolio Summary
As of March 31, 2009, AerCap's portfolio consisted of 295 aircraft and 75
engines that were either owned, on order, under contract or letter of intent,
or managed.
The information above includes transactions completed by AerCap and
AeroTurbine, AerCap's subsidiary which focuses on engine leasing and trading,
airframe and engine disassembly, part sales and MRO services.
About AerCap
AerCap is an integrated global aviation company with a leading market
position in aircraft and engine leasing, trading and parts sales. AerCap also
provides aircraft management services and performs aircraft maintenance, repair
and overhaul services and aircraft disassemblies through its certified repair
stations. AerCap is headquartered in The Netherlands and has offices in
Ireland, the United States, Singapore, China and the United Kingdom.
This press release may contain forward-looking statements that involve
risks and uncertainties. In most cases, you can identify forward-looking
statements by terminology such as "may", "should", "expects", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or "continue"
or the negative of such terms or similar terminology. Such forward-looking
statements are not guarantees of future performance and involve significant
assumptions, risks and uncertainties, and actual results may differ materially
from those in the forward-looking statements.
For Media: For Investors:
Frauke Oberdieck Peter Wortel
Tel. +31 20 655 9616 Tel. +31 20 655 9658
foberdieck@aercap.com pwortel@aercap.com
SOURCE: AerCap Holdings N.V.
CONTACT: For Media,
Frauke Oberdieck,
+31-20-655-9616,
foberdieck@aercap.com, or
For Investors,
Peter Wortel,
+31-20-655-9658,
pwortel@aercap.com
(AER)
__________________________________________________________________________________________
NEWS 
