Tag Archives: AerCap

Air France takes delivery of its first Boeing 787-9 Dreamliner

Boeing and AerCap, a global leader in aircraft leasing, on December 1, 2016, celebrated the delivery of the first 787 for Air France. The airplane, a 787-9, signifies the delivery of AerCap’s 50th Dreamliner and will be deployed on Air France’s Paris to Cairo route starting in January 2016. The airplane is also the 500th 787 produced on Boeing’s production lines.

 

The Air France-KLM Group has ordered a total of 18 787-9s and seven 787-10s, with an additional 12 787-9s leased through AerCap. The arrival of Air France’s first 787-9 in Paris today is part of the carrier’s continued renewal of its long-haul fleet.

Photos: Boeing. Boeing 787-9 Dreamliner F-HRBA (msn 38769) is pictured in action at Paine Field near Everett, WA on November 30, 2016.

AG Read the Real WAN

 

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.

Belavia Belarusian Airlines to introduce the Boeing 737-800 on the Minsk-Barcelona route

737-800 Belavia Artwork

Belavia Belarusian Airlines (Minsk) is getting ready to take delivery of its first Boeing 737-800 (737-8K5 EW-437PA, msn 27988, ex D-AHFP) leased from AerCap.

Previously on June 26, 2014 Belavia announced it had reached an agreement with Boeing on an order for three 189-seat Next-Generation 737-800 airplanes.

Belavia currently operates six Boeing 737-500s and seven 737-300s.

Belavia is planning to initially operate the new type on the Minsk-Barcelona route starting on May 16, 2015 per Airline Route.

Image: Boeing.

Belavia aircraft slide show:

 

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.

West Atlantic to take delivery of the first A320 freighter

Copyright Photo: Gordon Stretch. West Atlantic now operates a fleet of 33 BAe ATP freighters.

West Atlantic (Gothenburg) will become the first operator of the converted Airbus A320 freighter. AerCap Holdings N.V. has announced that it has placed the first converted Airbus A320 freighter from its fleet on lease with European cargo operator West Atlantic. These aircraft are part of a passenger to freighter (P2F) conversion project for up to thirty A320 aircraft that AerCap agreed with Airbus Freighter Conversions (AFC) in 2008.

Under the lease agreement between AerCap and West Atlantic, which is subject to finalization of terms and conditions, West Atlantic will become launch operator for the A320 P2Fs by taking an initial three aircraft on lease from AerCap with deliveries between 2012 and mid-2013, with the option of a further four aircraft by 2015.

AerCap, AerCap’s subsidiary AeroTurbine and AFC will provide certain spares, crew training and line support to West Atlantic for facilitating the entry of the converted aircraft into service.

West Atlantic was created in 2008 with the merger of West Air Europe (Sweden), West Air Europe (Luxembourg) and Atlantic Airlines (UK).