AerCap posts second quarter net income of US$282.9m

AerCap reported second quarter 2017 net income of US$282.9m, compared with US$233.3m for the same period in 2016. Diluted earnings per share of U$1.67, compared with US$1.22 for the same period in 2016. The increase in net income and diluted earnings per share was driven primarily by higher net gain on sale of assets, higher maintenance rents and lower maintenance rights expense. Diluted earnings per share was also favorably impacted by the repurchase of 32.7 million shares for US$1.4bn from April 2016 through June 2017.
Aengus Kelly, CEO of AerCap, commented: “AerCap completed the second quarter of 2017 with another strong set of results. During the first half of 2017 we generated US$3.15 earnings per share and net income of US$544.1m. Our strong operational performance continued with the execution of 108 aircraft transactions during the second quarter. In addition, during the quarter we ordered a further 30 Boeing 787 aircraft, making AerCap the largest customer of the 787 Dreamliner. Most recently we successfully completed an offering of US$1.0bn of 10-year senior notes, further strengthening our financial position. The performance and activities illustrate the continued focus on execution by the AerCap team.”