Aircraft lease giant signed deals worth $6bn in 2013
AIRCRAFT leasing company AerCap said it signed deals valued at $5.9bn (€4.3bn) last year, including buying International Lease Finance Corporation (ILFC) in December.
AerCap is headquartered in the Netherlands but has a significant presence in Shannon, Co Clare.
The global business is headed by Irish chief executive Aengus Kelly, who previously worked at Guinness Peat Aviation, also in Shannon.
New York Stock Exchange- listed AerCap said in a full-year review that it had signed lease agreements for 79 aircraft in 2013.
In total, the company said it had signed financing transactions for $5.9bn in 2013, of which $3.8bn relates to the purchase of ILFC from global insurance giant American International Group (AIG).
In 2013, AerCap said it:
* Delivered 52 aircraft under contracted lease agreements
* Purchased 38 aircraft, and entered into purchase and leaseback agreements for another 21 aircraft that are still to be delivered
* Closed the sale of 28 aircraft.
But December's agreement to buy ILFC was by far the biggest transaction of the year.
When it closes, AerCap's portfolio of 378 aircraft owned, managed or under contract to purchase at the end of December, will increase to a fleet of 1,329 aircraft.
Shares in AerCap surged by more than 30pc in December as the market responded to the takeover.
Under the terms of the acquisition, which is expected to close between the start of April and the end of June, AIG is being paid a mix of cash and AerCap shares for ILFC.
AerCap is headquartered in the Netherlands and has offices in Shannon, Co Clare, the United States, China, Singapore and the United Arab Emirates.