AerCap Holdings N.V. reports news on its global aviation leasing business, including lease agreements, aircraft purchases and sales, engine and helicopter activity, and additions to its aircraft order book. The company provides fleet solutions for airline and aviation customers and reports activity across owned and managed aviation assets.
Recurring AerCap developments also include quarterly and annual financial results, financing transactions, share repurchase programs, ordinary-share dividends, annual general meeting outcomes, board composition, and corporate responsibility disclosures. Customer lease announcements and manufacturer orders often reflect the company’s role in financing and managing commercial flight equipment.
AerCap Holdings N.V. (NYSE: AER) has announced its definitive agreement to acquire 100% of GE Capital Aviation Services (GECAS) from General Electric (NYSE: GE). The transaction is valued at $24 billion in cash, plus $1 billion in AerCap notes, and will issue 111.5 million shares to GE, resulting in GE holding approximately 46% of the combined company. This acquisition will create a leading aviation leasing platform, enhancing cash flows and profitability. The transaction is expected to close in Q4 2021, pending regulatory and shareholder approvals.
AerCap Holdings N.V. (NYSE: AER) announced on March 2, 2021, that it has filed its annual report on Form 20-F with the U.S. SEC, detailing its audited financial statements for the fiscal year ending December 31, 2020. The report is accessible on AerCap's website, as well as the SEC's site. The company, a leader in aircraft leasing, serves around 200 customers globally with comprehensive fleet solutions. The filing reflects compliance with U.S. regulations, ensuring transparency for investors and stakeholders.
AerCap Holdings N.V. (NYSE: AER) reported a net income of $28 million ($0.22 per share) for Q4 2020, affected by cash accounting and debt extinguishment costs totaling $193 million. Operating cash flow rose 21% to $653 million. The company ended the quarter with over $9 billion in liquidity, achieving a debt/equity ratio of 2.6 to 1. Lease revenue declined 17% YoY to $995 million, while total revenues fell 18% to $1,032 million. The average age of AerCap's fleet is 6.4 years, with a utilization rate of 97%. They have placed 98% of new aircraft deliveries for 2021 and 2022.
AerCap Holdings N.V. (AER) announced the retirement of Philip Scruggs as Chief Commercial Officer in March 2021 after a 26-year career. Scruggs led the commercial business, managing a fleet generating an average of $4 billion annually and overseeing $27 billion in new equipment purchases. Peter Anderson will succeed him, bringing two decades of global experience in aircraft leasing. CEO Aengus Kelly praised both leaders and expressed confidence in the company's future.
AerCap Holdings N.V. (NYSE: AER) will host a conference call on March 2, 2021, at 8:30 a.m. ET to discuss its fourth quarter and full year 2020 financial results. The earnings press release will be available before U.S. markets open that day, and the conference call can be accessed via phone or through AerCap's website. The company, a leader in aircraft leasing serving about 200 customers globally, is headquartered in Dublin.
AerCap Holdings N.V. announced the pricing of senior notes totaling $1 billion with an interest rate of 1.75%, due in 2026. The notes will be fully guaranteed by AerCap and certain subsidiaries. The funds raised will be used for general corporate purposes. This offering involves AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust, both wholly-owned subsidiaries. Citigroup, Morgan Stanley, and others are managing the offering. Investors are advised to read the associated prospectus for detailed information.
AerCap Holdings N.V. (NYSE: AER) reported significant business transactions for 2020, including signed financing transactions totaling $8.3 billion and lease agreements for 97 aircraft. In Q4 2020 alone, financing transactions were approximately $2.8 billion, with leases for 31 aircraft. The company purchased 18 aircraft and executed sales for 12 aircraft. AerCap remains a leader in aircraft leasing, serving around 200 customers in 80 countries. The press release also includes forward-looking statements regarding the impact of the Covid-19 pandemic on future performance.
AerCap Holdings N.V. has announced pricing terms for debt tender offers totaling $740 million. The offers involve purchasing specific series of Senior Notes, with the 3.950% Senior Notes due 2022 and 3.500% Senior Notes due 2022 accepted for purchase, subject to pro rata allocation due to exceeding the Maximum Tender Cap. Payments for accepted Notes will include accrued interest and settle on December 15, 2020. The offers expire on December 28, 2020. AerCap retains the right to amend or terminate the offers at its discretion.
AerCap Holdings N.V. (NYSE: AER) announced early results of its debt tender offers to purchase notes, increasing the aggregate purchase price from $600 million to $740 million. As of the early tender deadline on December 11, 2020, approximately $908.4 million of notes were tendered. The offers expire on December 28, 2020, with payments to be made for validly tendered notes on December 15, 2020. The company retains the right to amend or terminate the offers.
AerCap Holdings N.V. (NYSE: AER) announced a cash tender offer to purchase up to $600 million in notes from its subsidiary, AerCap Global Aviation Trust, including three series of senior notes due in 2022. The tender offers will expire on December 28, 2020, with an early tender deadline of December 11, 2020. The company intends to retire and cancel the accepted notes, leading to their delisting from Euronext Dublin. Total consideration will be calculated based on a fixed spread over a reference security, with the total amount to be determined on December 14, 2020.