Aercap struck 438 deals with airlines and manufacturers last year, the company says

Irish aircraft leasing giant Aercap secured 438 deals with airlines and manufacturers last year, the company confirmed on Monday.

Aercap buys planes and engines from manufacturers such as Airbus and Boeing and leases them to airlines around the world.

The Dublin-based company became the biggest player in its industry when it completed the $24 billion purchase of GE Capital Aviation Services (GECAS) from US multinational General Electric in November.

Aercap said in a statement Monday that it leased 311 planes and engines last year, purchased 65 planes and sold 62 others, for a total of 438 transactions.

The company also raised $30.5 billion (€27 billion) in long-term funding, including $24 billion to pay for the purchase of GECAS.

In the last three months of 2021, Aercap leased 111 aircraft, 20 helicopters and 27 engines.

The company purchased 37 planes, including Airbus and Boeing jets and eight helicopters. He also acquired five engines.

In the last quarter of last year, Aercap sold 26 aircraft and four engines.

Aengus Kelly, the Irishman who is chief executive of Aercap, said the airline industry has improved throughout 2021 as borders have reopened and people have started to travel again.

Demand stimulated

This boosted demand for aircraft, allowing Aercap to ramp up transactions during the year.

“I am optimistic that we will see further increases in passenger traffic in 2022 as the recovery continues,” Kelly said.

He argued that Aercap’s ability to raise funds for the GECAS deal showed investor interest in leasing aircraft.

Mr Kelly added he was “delighted” that Aercap had completed the purchase in the last quarter of last year.