MEDIA RELEASE PR39703
AerCap Signs Agreement to Sell Six A320 Aircraft to Avolon and Establishes Joint Venture With
Avolon to Own Three A330 Aircraft
AMSTERDAM, May 25 /PRNewswire-AsiaNet/ --
AerCap Holdings N.V. ("AerCap," NYSE: AER) announced today that it has signed an agreement
with Dublin-based aircraft leasing company Avolon for the sale of six A320s. Four of the aircraft are new
(2010 manufactured) and are part of the AerVenture portfolio, a joint venture between AerCap and Abu
Dhabi's investment holding company Waha Capital. The other two aircraft are owned by AerCap and
were manufactured in 2008. All aircraft have been sold with leases attached.
In addition to the A320 sale, AerCap has established a joint venture with Avolon which owns three of
AerCap's A330-200 aircraft on long-term leases with Aeroflot. AerCap and Avolon will each contribute
50% of the equity required for this joint venture. AerCap will continue to manage the aircraft and the
related leases.
AerCap's CEO Klaus Heinemann said: "Investor demand for new aircraft has significantly increased
over the last few months, especially when linked to long-term leases with prime airlines. This market
environment has provided attractive opportunities for us to sell aircraft from our young, fuel-efficient
portfolio and from our order positions in order to achieve our diversification objectives and further
optimize our portfolio."
Domhnal Slattery, CEO of Avolon, added: "Following our successful US$1.4 billion initial capital
raise, we are pleased to announce this important transaction with AerCap and to welcome five new
airline customers to Avolon. Our objective is to build Avolon into a leading player in the global aircraft
leasing sector by deploying our capital effectively and in a manner which meets our airline customer
requirements and our expected rates of return. Our primary focus will be on Airbus A320 and Boeing
737NG family aircraft but, as today's announcement demonstrates, we retain the capability to invest in
long-haul aircraft which meet our risk and return criteria."
Headquartered in Ireland, with offices in New York, Hong Kong and Shanghai, Avolon provides
aircraft leasing and lease management services. Earlier this month, Avolon successfully completed its
initial capital raise of US$1.4 billion including an equity commitment of US$750 million from three private
equity firms, Cinven, CVC Capital Partners and Oak Hill Capital Partners.
About AerCap Holdings N.V.
AerCap is the world's leading independent aircraft leasing company. AerCap also provides engine
leasing, aircraft management services, aircraft maintenance, repair and overhaul services and aircraft
disassemblies. AerCap is headquartered in The Netherlands and has offices in Ireland, the United
States, China, Singapore 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.
Contact for Media: Contact for Investors:
Frauke Oberdieck Peter Wortel
+31 20 655 9616 +31 20 655 9658
foberdieck@aercap.com pwortel@aercap.com
SOURCE AerCap Holdings N.V.
CONTACT: Media: Frauke Oberdieck, +31-20-655-9616, foberdieck@aercap.com, or Investors:
Peter Wortel, +31-20-655-9658, pwortel@aercap.com, both of AerCap Holdings N.V.
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