AerCap’s first quarter 2024: leases, purchases, sales and more

AerCap Holdings has provided an extensive overview of its business activities during the initial quarter of 2024. Throughout this period, the company has been actively involved in various significant transactions across its diverse portfolio.

The company inked a total of 82 lease agreements, encompassing a wide array of aviation assets. These agreements included leases for six wide-body aircraft, 40 narrow-body aircraft, 26 engines and ten helicopters. Such lease agreements signify the continued demand for AerCap’s offerings in the aviation leasing market.

AerCap completed 21 purchase transactions during the quarter, indicating its strategic acquisition efforts. These purchases involved a variety of aircraft types, including two Airbus A220-family aircraft, five Airbus A320neo-family aircraft, two Airbus A330neos, three Boeing 737 MAX aircraft and one Boeing 787-9, adding diversity to its owned aircraft portfolio. Additionally, the purchases encompassed six engines and two helicopters, contributing to AerCap’s overall asset base.

On the sales front, AerCap executed 49 transactions, underscoring its active participation in the aircraft resale market. These sales involved a total of 35 aircraft, comprising various models such as the Airbus A320 family, Airbus A320neo family, Boeing 737NGs, Boeing 737 MAXs, Boeing 757s and Embraer E190s, both from its owned aircraft portfolio and managed aircraft portfolio. Alongside aircraft sales, AerCap also sold 13 engines from its owned engine portfolio and managed engine portfolio, as well as one helicopter.

The company undertook a significant share repurchase initiative during the quarter, demonstrating its commitment to enhancing shareholder value. Approximately 4.3 million shares were repurchased at an average price of US$77.89 per share, amounting to a total expenditure of approximately US$336 million.

Furthermore, the company engaged in financing transactions totalling around US$1.6 billion, highlighting its proactive approach to securing capital for its operations and strategic initiatives.