- Order for 150 new CFM LEAP engines valued at approximately
$3 billion.
- New $500 million share
repurchase authorization.
- Initiating quarterly common stock dividend of $0.25 per share.
DUBLIN, May 8, 2024 /PRNewswire/ -- AerCap Holdings N.V.
("AerCap") (NYSE: AER) today will host its 2024 Capital Markets Day
in New York, beginning at
9:00 am EDT. At the event, which may
be viewed virtually here, AerCap's CEO Aengus Kelly will be joined
by other members of the senior leadership team to discuss the
company's strategic priorities and near- and longer-term
outlook.
"Today's announcements demonstrate the high level of
confidence we have in the future profits and cash flows of
AerCap," said Aengus Kelly, the Chief Executive Officer of
AerCap. "The strong operating environment for our engine leasing
business and our continued partnership with Safran and CFM
International supports the organic growth opportunity we have
announced today. Furthermore, we are announcing a new share
repurchase authorization and an inaugural dividend, highlighting
our relentless focus on creating value for our
shareholders."
"Today's announcement takes our share repurchase
authorizations to almost $4 billion
since March 2023 and continues
AerCap's strong track record of capital return," added Mr.
Kelly. "Likewise, our inaugural dividend reflects our confidence
in the outlook for the company and our future cashflows," Mr.
Kelly concluded.
In conjunction with the investor conference, AerCap made several
announcements, including a deal with Safran Aircraft Engines
("Safran") and Shannon Engine Support ("SES") for the purchase of
150 new CFM LEAP spare engines valued at approximately $3 billion at list prices; the Board of Directors
has authorized a new $500 million
share repurchase program through December
31, 2024; and the Board has declared the initiation of the
company's first quarterly dividend on its common stock of
$0.25 per share. This initial
quarterly dividend is to be payable on June
13, 2024, to shareholders of record at close of business on
May 22, 2024.
The engines will be managed by SES. SES is a 50/50 joint-venture
company between Safran and AerCap. The additional engines will
deliver in line with the growing fleet of in-service Boeing 737MAX
and Airbus A320neo Family aircraft.
About AerCap
AerCap is the global leader in aviation leasing with one of the
most attractive order books in the industry. AerCap serves
approximately 300 customers around the world with comprehensive
fleet solutions. AerCap is listed on the New York Stock Exchange
(AER) and is based in Dublin with
offices in Shannon, Miami,
Singapore, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around
the world.
Forward-Looking Statements
This press release contains certain statements, estimates and
forecasts with respect to 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,"
"might," "should," "expect," "plan," "intend," "will," "aim,"
"estimate," "anticipate," "believe," "predict," "potential" or
"continue" or the negatives thereof or variations thereon 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 about
future events. There are important factors that could cause our
actual results, level of activity, performance or achievements to
differ materially from the results, level of activity, performance
or achievements expressed or implied in the forward-looking
statements, including but not limited to the availability of
capital to us and to our customers and changes in interest rates;
the ability of our lessees and potential lessees to make lease
payments to us; our ability to successfully negotiate flight
equipment (which includes aircraft, engines and helicopters)
purchases, sales and leases, to collect outstanding amounts due and
to repossess flight equipment under defaulted leases, and to
control costs and expenses; changes in the overall demand for
commercial aviation leasing and aviation asset management services;
the continued impacts of the Ukraine Conflict, including the
resulting sanctions by the United
States, the European Union, the United Kingdom and other countries, on our
business and results of operations, financial condition and cash
flows; the effects of terrorist attacks on the aviation industry
and on our operations; the economic condition of the global airline
and cargo industry and economic and political conditions; the
impact of current hostilities in the Middle East, or any escalation thereof, on the
aviation industry or our business; 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 in any 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.
As a result, we cannot assure you that the 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, the future
performance or events described in the forward-looking statements
in this press release might not occur. Accordingly, you should not
rely upon forward-looking statements as a prediction of actual
results and we do not assume any responsibility for the accuracy or
completeness of any of these forward-looking statements. Except as
required by applicable law, we do not undertake any obligation to,
and will not, update any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE AerCap Holdings N.V.
