Last $39.65 USD
Change Today +0.25 / 0.63%
Volume 372.1K
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As of 4:15 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

aercap holdings nv (AER) Key Developments

AerCap Holdings N.V. Announces Amendment and Increase of Revolving Debt Facility to $2.2 Billion

AerCap Holdings N.V. announced that it has completed an amendment and upsize of its revolving warehouse facility. The non-recourse facility, which was originally put in place in 2006, has been amended to increase the transaction size from $1.6 billion to $2.2 billion and to allow for an additional three year revolving period with a two year term-out period, extending the transaction to December 2019. Credit Suisse acted as lead arranger and structuring agent on the transaction. The facility, which currently finances 29 aircraft, continues to allow for the acquisition of a range of aircraft types, and provides AerCap committed financing and significant flexibility to purchase aircraft. In addition to Credit Suisse, Bank of America Merrill Lynch, Morgan Stanley and ING Bank acted as joint lead arrangers on the transaction. RBC Capital Markets, RBS, Scotiabank, Natixis and Citi acted as co-arrangers. Fifth Third Bank and HSBC were documentation agents. Other lenders include BNP Paribas, Everbank Commercial Finance, Key Corporate Bank, and Siemens. Four new lenders joined the transaction.

AerCap Holdings N.V. Signs Lease Agreement for Twenty Airbus A320neos and Five Airbus A350s with Azul Linhas Aéreas Brasileiras S.A

AerCap Holdings N.V. announced that is has signed an agreement with Azul Linhas Aereas Brasileiras for the lease of twenty Airbus A320neo family aircraft and five Airbus A350s aircraft from its order book. The A320neo family aircraft will be configured for up to 174 seats and equipped with CFM LEAP-1A engines. The A320neo family aircraft are scheduled for delivery to Azul between 2016 and 2019, while deliveries of the A350s are expected between 2017 and 2018. The A350 lease contract is the execution of an initial agreement with Azul that was announced by International Lease Finance Corporation (ILFC) in April prior to the acquisition of ILFC by AerCap.

AerCap Holdings N.V. Announces Executive Changes

AerCap Holdings N.V. announced that John Wikoff will become Head of Investor Relations at AerCap with immediate effect. John Wikoff was most recently at Goldman, Sachs & Co. where he headed the Transportation Finance Group in New York. At Goldman, John was responsible for arranging various types of debt and equity-like offerings for aircraft lessors, airlines and other transportation concerns across the globe. After more than seven years of service as AerCap's Head of Investor Relations, Peter Wortel has decided to leave the company to pursue other interests.

AerCap Holdings N.V. - Shareholder/Analyst Call

AerCap Holdings N.V. - Shareholder/Analyst Call

AerCap Holdings N.V. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Asset Impairment for the Third Quarter of 2014; Provides Earnings Guidance for the Fourth Quarter 2014

AerCap Holdings N.V. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. Third quarter 2014 reported net income attributable to company was $340.9 million, compared with $83.6 million for the same period in 2013. Third quarter 2014 reported diluted earnings per share were $1.59, compared with $0.73 for the same period in 2013. The increase in net income and earnings per share over third quarter 2013 were driven primarily by the ILFC transaction. Third quarter 2014 adjusted net income was $315.8 million, compared with $89.4 million for the same period in 2013. Third quarter 2014 adjusted earnings per share were $1.49, compared with $0.79 for the same period in 2013. The increase in adjusted net income and earnings per share over third quarter 2013 were driven primarily by the ILFC transaction. Total revenues and other income was $1,251.0 million against $279.4 million a year ago. The increase was driven primarily by the ILFC transaction and new aircraft purchases. Operating cash flows were $885 million for the third quarter. For the nine months, the company reported net income attributable to company was $534.0 million or $3.21 per diluted share against $226.8 million or $1.98 per diluted share a year ago. Adjusted net income was $608.1 million or $3.71 per basic share against $224.5 million or $1.98 per basic share a year ago. Total revenues and other income was $2,322.7 million against $772.2 million a year ago. Net cash provided by operating activities was $1,498,361,000 against $510,488,000 a year ago. Purchase of flight equipment was $1,373,863,000 against $1,550,574,000 a year ago. For the quarter, the company reported asset impairment of $1,584 million against $9,193 million a year ago. For fourth quarter 2014, total revenue is expected to be approximately $1,250,000,000, which is $5 billion on an annualized basis. Depreciation is expected to be approximately $530 million or $2.1 billion on an annualized basis. This reflects expensing the maintenance rights assets over the remaining economic life of the aircraft. Interest expense is expected to be approximately $280 million or $1.1 billion annualized. Leasing and SG&A costs are expected to be $125 million to $150 million or $500 million to $600 million on an annualized basis, and the tax rate is expected to be approximately 17.5%.

 

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Price/Earnings 10.1x
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