February 23, 2015

AerCap reports record financial results

AerCap reported fourth quarter 2014 net income was US$298.2m, compared with US$65.6m for the same period in 2013. Fourth quarter 2014 reported basic earnings per share were US$1.41, compared with US$0.58 for the same period in 2013. The increase in net income and earnings per share over the fourth quarter 2013 were driven primarily by the ILFC transaction. Fourth quarter 2014 adjusted net income was US$296.7m, compared with US$72.8m for the same period in 2013. Fourth quarter 2014 adjusted earnings per share were US$1.40, compared with US$0.64 for the same period in 2013. The increases in adjusted net income and earnings per share over the fourth quarter 2013 were driven primarily by the ILFC transaction. Annualized net spread for the fourth quarter 2014 was 9.8%, up from 8.7% in the same period of 2013 and was 9.7% for full year 2014, up from 8.6% for full year 2013. Interest expense in the fourth quarter of 2014 includes ~US$12m of one-time charges relating to debt breakage costs on aircraft sales and interest costs on our ALS investment.



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