Category Archives: AerCap

Boeing delivers the 787th 787 Dreamliner to AerCap and China Southern

Boeing's 787th Boeing 787

Boeing has delivered the 787th 787 Dreamliner to come off the production line, marking a special milestone for the super-efficient airplane family and the fastest-selling twin-aisle jet in history.

Since its first delivery in September, 2011, the 787 family has flown nearly 300 million passengers on more than 1.5 million flights around the world, including more than 210 new nonstop routes made possible by the airplane’s superior fuel efficiency and range.

The airplane was delivered to AerCap, the world’s largest lessor and 787 customer. Sporting a special logo commemorating the production milestone, the airplane will be leased and operated by China Southern, which continues to expand its long-haul fleet of 787 Dreamliners, including 10 787-8s and eight 787-9s.

China Southern Airlines first ordered 10 787-8 Dreamliners in 2005 and further increased its capability on long-haul routes when they placed an order for 787-9s in 2016.

The 787s have enabled the airline to launch a number of non-stop global routes, connecting Guangzhou to London and Rome in Europe; Vancouver, British Columbia, in North America; and Perth, Auckland, and Christchurch in the Oceania region.

About China Southern Airlines

As China’s largest airline by fleet size, China Southern Airlines currently operates more than 800 aircraft, including Boeing 787, 777, 747 and 737s. The carrier operates more than 3,000 daily flights to 224 destinations in 40 countries and regions across the world.

About AerCap

AerCap is the global leader in aircraft leasing with, as of September 30, 2018, 1,457 owned, managed or on order aircraft in its portfolio. AerCap has one of the most attractive order books in the industry. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and has its headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse.

Top Copyright Photo (all others by China Southern): China Southern Airlines Boeing 787-9 Dreamliner B-1168 (msn 38797) (787th Boeing 787) PAE (Nick Dean). Image: 944679.

China Southern Airlines aircraft slide show:

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AerCap takes delivery of its first Boeing 737 MAX for China Southern

AerCap Holdings N.V. has today announced that it has taken delivery of its first Boeing 737 MAX 8.

The aircraft will be leased to China Southern Airlines, the first of 5 aircraft to go on lease to the airline from AerCap’s 737 MAX order book with Boeing.

AerCap has a total of 104 Boeing 737 MAX aircraft owned and on order, delivering through 2022.

AerCap and China Southern Airlines have recorded several firsts in recent years. In March 2018, AerCap made history when it delivered China Southern Airlines’ first A321neo, making the airline the first operator of the aircraft type in China. In 2016, AerCap delivered the first Pratt & Whitney powered A320neo into China, to China Southern Airlines.

Photo: AerCap.

AerCap boosts Airbus A320neo portfolio by 50 aircraft

Aircraft lessor AerCap holdings N.V. has upped its Airbus A320neo portfolio after signing a firm agreement to buy 50 additional aircraft. This transaction brings AerCap’s firm orders for the A320neo Family aircraft to a total of 270, owned and on order.

AerCap confirms the placement of five Embraer E190-E2s with Air Astana

AerCap Holdings N.V. has announced it has confirmed the placement of five Embraer E190-E2 jets to Air Astana, the national carrier of Kazakhstan. The aircraft, on long term lease from AerCap’s order book with Embraer, will begin delivering to Air Astana in the last quarter 2018.

AerCap is the launch lessor customer of Embraer’s E-Jets E2 second generation of this family of commercial aircraft with a total of 50 Embraer E190-E2s and E195-E2s on order.

The E2 aircraft offer greater range and operational efficiency which will support Air Astana’s growing network and open new market opportunities.

The E190 will allow Air Astana to open up smaller markets in southern Russia, the Caucasus, and Central Asia including smaller domestic routes.

Air Astana received its first original E190 in 2011.

Image: AerCap.

Route Map:

AerCap orders 100 Boeing 737 MAX 8s

AerCap 737 MAX 8 (Flt)(Boeing)(LRW)

Boeing (Chicago, Seattle and Charleston) and AerCap (Amsterdam) announced an order for 100 737 MAX 8s today at the Paris Air Show. The order, valued at $10.7 billion at current list prices, is the first 737 MAX order for AerCap.

 

The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX will be 14 percent more fuel-efficient than today’s most efficient Next-Generation 737s – and 20 percent better than the original Next-Generation 737s when they first entered service.

AerCap logo

AerCap is a global leader in aircraft leasing with 1,800 aircraft that are owned, managed, or under contract to purchase. AerCap serves over 200 customers in more than 90 countries with comprehensive fleet solutions and provides part-out and engine leasing services through its subsidiary, AeroTurbine. AerCap is listed on the New York Stock Exchange (AER).

Image: Boeing.

AerCap firms up an order for 50 additional Airbus A320neo Family aircraft

AerCap A320neo (Flt)(Airbus)(LRW)

AerCap (Amsterdam) has firmed up an order for 50 additional Airbus A320neo Family aircraft at the Farnborough International Airshow 2014. The contract, AerCap’s first major aircraft order following the acquisition of ILFC earlier this year, was signed by Philip Scruggs, AerCap’s President & Chief Commercial Officer and Fabrice Brégier, Airbus President and CEO. AerCap will announce its engine selection in due course.

Including today’s order for 50 A320neo aircraft, AerCap’s total order of A320neo aircraft rises to 200 and its total orders of Airbus aircraft rises to 945. Following the lessor’s acquisition of ILFC, AerCap becomes Airbus’ largest customer overall, both in number and value of aircraft purchased.

Image: Airbus.

AerCap to buy ILFC from AIG

AerCap

AerCap Holdings N.V. (The Netherlands) has announced that it has entered into a definitive agreement with American International Group, Inc. (AIG) under which AerCap will acquire 100% of the common stock of International Lease Finance Corporation (ILFC), a wholly-owned subsidiary of AIG. Under the terms of the agreement, AIG will receive $3.0 billion in cash and 97,560,976 AerCap shares.

ILFC logo

The transaction is expected to close in the second quarter of 2014. The cash portion of the consideration is expected to be funded through a combination of new debt financing and cash of the combined company.

The combined company will retain the name AerCap, and ILFC will become a wholly-owned subsidiary of AerCap. In connection with the transaction, AIG will be entitled to nominate two directors for election to the Board of Directors of AerCap.

Based on the closing stock price of AerCap’s shares on Friday, December 13, 2013, the total consideration has a value of approximately $26 billion including the assumption of the outstanding ILFC net debt of $21 billion. Upon closing of the transaction, AIG will own approximately 46% of the combined company, while the existing AerCap shareholders will own approximately 54% of the combined company. The AIG shares will be subject to a lock-up period which will expire in stages over a 9 to 15 month period, post closing of the transaction. In connection with the acquisition, AIG has entered into agreements with AerCap regarding voting restrictions, standstill provisions and certain registration rights.

As part of the transaction, AIG will provide AerCap with a committed five-year $1.0 billion unsecured revolving credit facility. In connection with the transaction, AerCap and AIG will make an election under Section 338(h)(10) of the Internal Revenue Code that will enable AerCap to step up the tax basis of ILFC’s aircraft and other assets to their fair market value.

AerCap’s CEO Aengus Kelly commented: “AerCap’s acquisition of ILFC will create the leading global franchise in the aircraft leasing industry. This transaction presents a unique strategic opportunity to bring together the outstanding and experienced personnel from both companies and two attractive portfolios of modern aircraft on lease to a highly diversified customer base. Further, we believe AerCap will now have the most attractive order book in the industry. With these combined resources, along with a strong liquidity profile, we will drive high levels of stable long term profitability and cash flows for the benefit of all our stakeholders.”

The acquisition will provide the opportunity to leverage the operating capabilities of both the AerCap and ILFC platforms to drive enhanced shareholder value. The combined portfolio will be concentrated from the outset in modern, fuel efficient aircraft, with over 85% of the fleet by value consisting of A320, A330, Boeing 737NG and Boeing 777 family aircraft. Further, AerCap will benefit from over $25 billion of future aircraft deliveries presently in the combined order book. This represents substantial embedded future growth with attractive aircraft types, and favorable pricing and delivery dates.

Robert H. Benmosche, President and CEO of AIG, said: “ILFC is a valuable business, and AIG has always taken great pride in ILFC’s reputation for innovation, its pioneering role in aircraft leasing, its industry-leading team of employees, and its consistent and successful market leadership. The combination of AerCap’s young fleet of in-demand aircraft and proven portfolio management capabilities with ILFC’s attractive order book and broad marketing reach will continue to lead the industry.”

Henri Courpron, Chief Executive Officer of ILFC, added: “I am very proud of the hard work and leadership demonstrated by the ILFC team over the past four years. It is because of them that we have the best-in-class order book and solid balance sheet, and our company is now poised for this promising combination with AerCap. Becoming the number one lessor in the world is a just reward for all of this work.”

The transaction is subject to approval by AerCap shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. Waha Capital, AerCap’s largest shareholder with a current stake of 26%, has agreed to vote in favor of the transaction.

AerCap is one of the world’s leading aircraft leasing companies. AerCap has a portfolio of 373 aircraft owned, managed and under purchase commitments, which represents one of the youngest fleets in the industry. The company is listed on the New York Stock Exchange (AER) and has its headquarters in the Netherlands with offices in Ireland, the United States, China, Singapore and the United Arab Emirates.

AerCap Current Fleet:

AerCap Fleet

International Lease Finance Corporation (ILFC) is a global market leader in the leasing and remarketing of commercial aircraft. With nearly 1,000 owned and managed aircraft and commitments to purchase approximately 330 new high-demand, fuel-efficient aircraft, ILFC is the world’s largest independent aircraft lessor. ILFC has approximately 200 customers in more than 80 countries and provides part-out and engine leasing services through its subsidiary, AeroTurbine. ILFC operates from offices in Los Angeles, Amsterdam, Beijing, Dublin, Miami, Seattle, and Singapore.