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AerCap Completed GECAS Transaction and Raised Approximately $30.5 Billion in Funding During 2021

AerCap Holdings had an extraordinary year in 2021, completing the acquisition of GECAS, raising funding of around $30.5 billion and executing 438 transactions. In December 2021, the company’s MSCI ESG rating was also raised from BBB to A.

AerCap Boeing 737-8 MAX Rendering - Courtesy Aercap

On Monday (January 17, 2022), AerCap Holdings N.V. announced the company’s key accomplishments and transactions for 2021, including the closing of the GECAS acquisition on November 1st, raising approximately $30.5 billion in funding, and the execution of 438 transactions. In December 2021, AerCap also received an MSCI ESG rating of ‘A’, an improvement of their previous ‘BBB’ rating. For the full year 2021, AerCap signed 311 lease agreements, completed 65 purchases and executed 62 sale transactions.

In Monday’s announcement, AerCap’s Chief Executive Officer, Aengus Kelly, said,

“Throughout 2021, we saw a steady improvement in the performance of the airline industry as borders reopened to travel and passenger traffic increased. For AerCap, this manifested itself in an increased level of transaction activity due to the growing demand for aircraft. I am optimistic that we will see further increases in passenger traffic during 2022 as the recovery continues.

“I am delighted that we successfully completed the acquisition of the GECAS business during the fourth quarter. Our ability to raise $24 billion of long-term funding for the acquisition at very attractive rates illustrates the depth of investor interest in aircraft leasing and is a testament to AerCap’s platform and its strong management team.

“Another important milestone during the quarter was the upgrade of our ESG rating by MSCI. In addition, our Board of Directors has established an ESG Committee to further strengthen our commitment in this area.”

For the fourth quarter of the year, the company signed 150 lease agreements including 19 widebody aircraft, 92 narrowbody aircraft, 27 engines and 20 helicopters. AerCap also completed 42 aircraft, engine and helicopter purchases, including 16 Airbus A320neo Family aircraft, one A220 and Five Boeing 737 MAX aircraft for AerCap’s owned portfolio, as well as seven for the company’s managed portfolio, five engines and eight helicopters. AerCap also executed 30 sale transactions in 2021 for 23 aircraft, four engines and three helicopters. The 23 aircraft sold include five A320 Family, two Airbus A320neo Family, five Boeing 737NGs, four Boeing 757s, two Boeing 737 MAX and one 767-300ER from AerCap’s owned portfolio and four aircraft from the company’s managed portfolio.

The full year and Q4 numbers include transactions for the combined company for the period after the GECAS acquisition closing on November 1st, 2021.

AerCap Holdings N.V. (NYSE: AER) is the global leader in aircraft leasing with a portfolio of over 3,500 aircraft, engines and helicopters. The company serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is headquartered in Dublin and maintains offices in Shannon, Miami, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle, Toulouse and other locations around the world.

Source: AerCap Holdings N.V.


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