AerCap Raised $30.5B in Funding, Signed 311 Lease Agreements in 2021

During 2021, AerCap raised long-term funding of approximately $30.5 billion, including $24 billion in Q4/21 to finance its acquisition of GE Capital Aviation Services, which was completed on Nov. 1, 2021. AerCap also signed 311 lease agreements, completed 65 purchases and executed 62 sale transactions during the year.

“Throughout 2021, we saw a steady improvement in the performance of the airline industry as borders reopened to travel and passenger traffic increased,” Aengus Kelly, CEO of AerCap, said. “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.

In Q4/21, AerCap signed 158 lease agreements, including agreements for 19 widebody aircraft, 92 narrowbody aircraft, 27 engines and 20 helicopters. In addition, the company completed 42 purchases for 29 aircraft (including 16 Airbus A320neo family aircraft, one Airbus A220 aircraft and five Boeing 737 MAX aircraft for AerCap’s owned aircraft portfolio and seven aircraft for AerCap’s managed aircraft portfolio), five engines and eight helicopters. The company also executed 30 sale transactions for 23 aircraft (including five Airbus A320 family aircraft, two Airbus A320neo family aircraft, five Boeing 737NGs, four Boeing 757s, two Boeing 737 MAX aircraft and one Boeing 767-300ER from AerCap’s owned aircraft portfolio and four aircraft from AerCap’s managed aircraft portfolio), four engines and three helicopters.

At the end of Q4/21 in December, AerCap received an MSCI ESG rating of “A,” an improvement from its previous ESG rating of “BBB.”

“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,” Kelly said.

The full year and fourth quarter numbers include transactions of the combined company for the period after AerCap closed the GECAS acquisition on Nov. 1, 2021. Transactions prior to closing are only included for AerCap on a standalone basis.

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