AerCap Holdings N.V. reports second quarter financial results

AerCap Holdings N.V. announced that its adjusted net income was $212.4m for the second quarter of 2014. Adjusted earnings per share were $1.29 for the second quarter of 2014, an increase of 118% over the second quarter of 2013. On May 14, 2014, AerCap completed the acquisition of International Lease Finance Corporation (“ILFC”) from American International Group (“AIG”). The results of ILFC have been consolidated in AerCap Holdings N.V.’s income statement and cash flow statement for the second quarter as of May 14th, 2014, the completion date. As of June 30th, 2014, AerCap had committed to purchase 350 aircraft with scheduled delivery dates up to 2022. Over 90% of its committed aircraft purchases delivering 2014 through December 2016 and approximately 50% of its committed aircraft purchases delivering 2014 through 2022 are placed, either under lease contract or a letter of intent. AerCap executed 122 aircraft transactions during the second quarter of 2014. Targeted aircraft sales of ~$1bn per year on average are ahead of plan: ~$2bn completed since the ILFC transaction announcement in December 2013. 90% of the ILFC aircraft have been transferred to AerCap’s existing operations in Ireland. Available liquidity of $6.5bn as of June 30th, 2014. Since the announcement of the transaction $7bn of funding has been raised: unsecured revolver, term loan and ILFC acquisition related take-out financing.

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