11-Nov-2019 8:03 AM

AerCap: 108 aircraft transactions executed in 3Q2019

AerCap reported (08-Nov-2019) the following highlights for 3Q2019:

  • Upgraded to BBB rating by S&P Global Ratings and placed on Positive Outlook by Moody's;
  • Executed 108 aircraft transactions, with new technology aircraft now comprising 55% of lessor's owned fleet;
  • Portfolio consisted of 1360 aircraft that were owned, on order or managed as of end of 3Q2019. Average age of owned fleet as was 6.2 years (2.2 years for new technology aircraft, 11.1 years for current technology aircraft) and the average remaining contracted lease term was 7.5 years;
  • Average current lease expires in 2027;
  • 99.8% fleet utilisation rate;
  • Net gain on sale of assets of USD40.5 million, relating to 19 aircraft sold for USD561.3 million, compared with USD20.0 million for the same period in 2018, relating to 13 aircraft sold for USD187.5 million. Increase was primarily due to the volume and composition of asset sales;
  • Reached over USD40 billion of contracted future lease revenue, with approximately 97% of lease rents through 2022 already contracted;
  • USD2.4 billion increase in average lease assets compared to 3Q0218. [more - original PR]

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