AerCap Holdings reports second quarter results

AerCap Holdings N.V. announced the results of its operations for the second quarter ended June 30, 2008. Second quarter 2008 net income was $68.6 million, compared with $34.2 million for the same period in 2007. Sales revenue for the second quarter 2008 was $180.7 million, compared to $84.3 million for the same period in 2007, and was generated from the sale of ten aircraft, two engines and the sale of parts inventory.

Committed purchases of aviation assets delivered or scheduled for delivery in 2008 are $1.3 billion, of which $933 million closed in the first half year of 2008.

AerCap acquired a 19-aircraft portfolio from TUI Travel in a joint venture with Deucalion Aviation Funds. This portfolio contains eleven Next Generation Boeing 737-800s, six Boeing B757-200s and two Boeing B767-300ERs. The portfolio was financed through a $425.7 million debt facility and $62.8 million of subordinated debt.

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