Aercap Holdings reports strong second quarter
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Aercap Holdings reports strong second quarter

Aercap Holdings, the global leader in aircraft leasing, reported a strong second quarter this week that beat the Street on earnings, while revenue matched analysts’ expectations. On a per share basis, the company reported earnings of $1.70, rising slightly against the previous year’s comparable figure of $1.67. Fleet utilisation at Aercap is looking as strong as ever, with 98.9% of its aircrafts on a lease. The average term left on those leases is 7.1 years.

Over the last 30 days, Aercap’s share price has appreciated by more than 3%

graph 0108 aercap

SOURCE: Yahoo Finance

Aengus Kelly, AerCap’s CEO, made the following comment: “I am pleased to report another quarter of strong operating and financial results, with earnings per share of $1.70 and net income of $254.2 million. The AerCap platform remained active in the quarter, completing 90 aircraft transactions, including 17 widebody transactions. We took delivery of 20 aircraft and expect to take delivery of over 200 new technology aircraft through the end of 2020. We continue to see strong global demand from our airline customers and have access to $11.7 billion of liquidity to meet our strategic objectives.”

In particularly positive news for investors, the company is continuing to place aircrafts in China, with no apparent impact from the on-going trade war and no slow-down in demand. Dominion Investment Manager Christian Cole summed up the results as “another solid set of numbers from the global leader in commercial aircraft leasing.”

Disclosure

Dominion holds Aercap Holdings in its Global Trends Managed Fund.


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