Clicky

Industry News

Industry News > Leasing > Story
Aercap Announced 4th Quarter 2009 Transactions
Jan 13, 2010 - AMSTERDAM - (PR) Aercap Holdings N.V. in The Netherlands announced the completion of the following aircraft and engine transactions for the 4th quarter of 2009:

Aircraft Deliveries:

AerCap completed 14 aircraft deliveries in the 4th quarter under contracted lease agreements:

 

• Three new Airbus A330s for Aeroflot–Russian Airlines (Russia),

• Three new Airbus A320s for TAP (Portugal),

• Two Boeing B737-300s for Webjet Linhas Aereas (Brazil),

• One Boeing B737-300 and one Boeing B737-400 for P.T. Metro Batavia  (Indonesia),

• One new Airbus A330 for P.T. Garuda Indonesia (Indonesia),

• One new Airbus A320 for Air Arabia (United Arab Emirates),

• One new Airbus A319 for Mexicana (Mexico), and

• One Boeing B737-300 for Boliviana de Aviacion (Bolivia).

New Lease Agreements:

AerCap signed 15 new lease agreements for aircraft in the 4th quarter 2009:

• Ten new Airbus A330s for Virgin Atlantic Airways (U.K.),

• Two Boeing B737-300s for Webjet Linhas Aereas (Brazil),

• One Boeing B737-300 for Boliviana de Aviacion (Bolivia),

• One Boeing B737-300 for P.T. Metro Batavia (Indonesia), and

• One Airbus A321 for Onur Air (Turkey).

The average term of the ten lease agreements for new aircraft signed during the fourth quarter was 144.0 months. The average term of the lease agreements for used aircraft signed during the fourth quarter was 54.8 months. During the fourth quarter, AerCap also executed letters of intent (signed and deposit paid by lessee) for three new aircraft leases with an average lease term of 132 months and three used aircraft leases with an average lease term of 59.3 months.

AerCap also entered into nine engine lease agreements in the fourth quarter and delivered the engines to the lessees in the same period. Six of the leased engines were CFM-56, one was a CF6 engine, one was a PW4060 engine and one was a V2500 engine.

AerCap's CEO Klaus Heinemann commented: "While the fourth quarter 2009 represented the completion of a very challenging year for the aviation and financial services industry, I am pleased to report that AerCap's operational performance was not significantly impacted. We successfully completed our ambitious new aircraft purchase program by adding ten aircraft to our portfolio during the fourth quarter alone. The continuing market improvements we observed since the second quarter of last year are also highlighted by the completion of eight aircraft sales during the fourth quarter.

Most importantly, AerCap effectively navigated 2009 without a single aircraft repossession, while existing clients in restructuring situations were starting to show signs of improvement. In addition, even among airlines outside Asia, the Middle East and Latin America, the month of December showed first signs of passenger and cargo volume growth and recovery. We are hopeful that the trend will continue, potentially leading airlines to cautiously add capacity throughout 2010."

Purchase Activities: Ten Aircraft Acquired in the Fourth Quarter

During the fourth quarter 2009, AerCap acquired four new Airbus A330s, four new Airbus A320s and one new Airbus A319 under existing commitments with Airbus, and one used Airbus A320.

In addition to the completed purchase activities above, AerCap executed a purchase agreement for the acquisition of six new Airbus A330s (purchase and leaseback with Virgin Atlantic Airways) and a letter of intent for the acquisition of three new Airbus A320s.

AerCap expanded its engine pool with the acquisition of five CFM56, two JT8D, one  V2500 and one PW4060 engine in the fourth quarter.

Sales Activities: Eight Aircraft Sold in the Fourth Quarter 2009

During the fourth quarter, AerCap closed sales transactions for five Airbus A320 from its owned portfolio, and two Boeing B737-300 and one McDonnell Douglas MD82 from its managed portfolio.

In addition to the completed sale transactions, AerCap executed an agreement for the sale of three Airbus A330s from its forward order and a letter of intent for the sale of one Airbus A320 from its owned portfolio.

AerCap also sold one CFM56 and one V2500 engine from its owned engine pool.

Disassembly: Eight Aircraft and Eight Engines Disassembled

In the fourth quarter, AerCap's subsidiary AeroTurbine disassembled two aircraft and four engines from its own inventory, and six aircraft and four engines for third parties.

Debt Facilities: $484 Million of Facilities Signed in the Fourth Quarter

During the fourth quarter, AerCap signed agreements for three separate debt facilities totalling $484 million. This brings the total debt facilities concluded by AerCap during 2009 to $1.7 billion, and $5.0 billion during the last two years.

As of December 31, 2009, AerCap's portfolio consisted of 291 aircraft and 92 engines that were either owned, on order, under contract or letter of intent, or managed.

Log in or Sign up to comment
Aviation Directory
  • Search Company
Back to Top