AerCap Holdings NV Announces New Engine Order, New Share Repurchase Authorization and First Cash Dividend

  • Order for 150 new CFM LEAP engines worth approximately 3 billion dollars.
  • New 500 million dollars authorization to repurchase shares.
  • Launch of a quarterly dividend on the common shares of $0.25 per share.

DUBLIN, May 8, 2024 /PRNewswire/ — AerCap Holdings NV (“AerCap”) (NYSE: AER) will host its 2024 Capital Markets Day today in new Yorkfrom 9:00 a.m. EDT. At the event, which can be viewed virtually here, AerCap CEO Aengus Kelly will be joined by other members of the executive team to discuss the company’s strategic priorities and near-term outlook. long-term.

“Today’s announcements demonstrate the high level of confidence we have in AerCap’s future earnings and cash flows,” said Aengus Kelly, president and CEO of AerCap. “The strong operating environment of our engine leasing business and our continued partnership with Safran and CFM International support the organic growth opportunity we announced today. Additionally, we are announcing a new share buyback authorization and an inaugural dividend, underscoring our continued focus on creating value for our shareholders. »

“Today’s announcement brings our share repurchase authorizations to almost 4 billion dollars Since March 2023 and continues AerCap’s strong track record of capital return, “ added Mr. Kelly. “Similarly, our inaugural dividend reflects our confidence in the prospects of the business and our future cash flows,” Mr. Kelly concluded.

In conjunction with the investor conference, AerCap made several announcements, including an agreement with Safran Aircraft Engines (“Safran”) and Shannon Engine Support (“SES”) to purchase 150 new CFM LEAP aftermarket engines worth of approximately 3 billion dollars at list prices; the board of directors authorized a new 500 million dollars share buyback program via December 31, 2024; and the Board of Directors declared the commencement of the Company’s first quarterly dividend on its common stock of $0.25 per share. This first quarterly dividend is payable on June 13, 2024to shareholders registered at the close of business on May 22, 2024.

The engines will be managed by SES. SES is a 50/50 joint venture between Safran and AerCap. The additional engines will be consistent with the growing fleet of Boeing 737MAX and Airbus A320neo family aircraft in service.

About AerCap

AerCap is the global leader in aircraft leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers worldwide with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is headquartered in Dublin with offices in Shannon, Miami, Singapore, Amsterdam, Shanghai, Dubai, SeattleToulouse and elsewhere in the world.

Forward-looking statements

This press release contains certain statements, estimates and forecasts regarding future performance and events. These statements, estimates and forecasts are “forward-looking statements”. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “could”, “should”, “expect”, “plan”, “intend”, “will”, “objective”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue” or the negative aspects or variations thereof or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections regarding future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied in the forward-looking statements, including but not limited to: to limit the availability of capital to us and our customers and changes in interest rates; the ability of our tenants and potential tenants to pay rent to us; our ability to successfully negotiate purchases, sales and leases of flight equipment (which includes aircraft, engines and helicopters), collect unpaid amounts and repossess flight equipment under contract agreements overdue rental, and to control costs and expenses; changes in overall demand for commercial aviation leasing and aviation asset management services; the ongoing impacts of the Ukrainian conflict, including resulting sanctions United Statesthe European Union, the United Kingdom and in other countries, on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and our operations; the economic situation of the global airline and cargo industry as well as economic and political conditions; the impact of current hostilities in the Middle East, or any escalation thereof, on the aviation industry or our business; the development of increased government regulation, including travel restrictions, sanctions, regulation of trade and the imposition of import and export controls, tariffs and other trade barriers; a downgrade of one of our credit ratings; competitive pressures within the industry; regulatory changes affecting commercial flight equipment operators, flight equipment maintenance, engine standards, accounting standards and taxes; and disruptions and security breaches affecting our information systems or the information systems of our third party providers.

Accordingly, we cannot assure you that any forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in AerCap’s Annual Report on Form 20-F and other filings with the United States Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, future performance or events described in the forward-looking statements in this press release may not occur. Therefore, you should not rely on forward-looking statements to predict actual results and we assume no responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE AerCap Holdings SA